Voting March 2020

Schroders is required to publish records of voting in order to achieve compliance with the UK Stewardship Code. According, voting in accordance with our house policy is set out on the following pages.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Midatech Pharma Plc Meeting Date: 03/02/2020 Country: United Kingdom

Meeting Type: Special Ticker: MTPH

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Share Consolidation 1

Against For Authorise Issue of Equity 2

Voter Rationale: Excessive dilution.

Blended Rationale: Excessive dilution.

Against For Authorise Issue of Equity without Pre-emptive Rights

3

Voter Rationale: Excessive dilution.

Blended Rationale: Excessive dilution.

Orsted A/S Meeting Date: 03/02/2020 Country: Denmark

Meeting Type: Annual Ticker: ORSTED

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Accept Financial Statements and Statutory Reports

For For

For For Approve Remuneration Report (Advisory Vote) 3

For For Approve Discharge of Management and Board 4

For For Approve Allocation of Income and Dividends of DKK 10.5 Per Share

5

For For Approve Guidelines for Incentive-Based Compensation for Executive Management and Board

7.1

For For Amend Articles Re: Agenda of Annual General Meeting

7.2

For For Authorize Editorial Changes to Adopted Resolutions in Connection with Registration with Danish Authorities

7.3

For For Reelect Thomas Thune Andersen (Chair) as Director

9.1

For For Reelect Lene Skole (Vice Chair) as Director 9.2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Orsted A/S Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Reelect Lynda Armstrong as Director 9.3a

For For Reelect Jorgen Kildah as Director 9.3b

For For Reelect Peter Korsholm as Director 9.3c

For For Reelect Dieter Wemmer as Director 9.3d

For For Approve Remuneration of Directors; Approve Remuneration for Committee Work

10

For For Ratify PricewaterhouseCoopers as Auditors 11

Helmerich & Payne, Inc. Meeting Date: 03/03/2020 Country: USA

Meeting Type: Annual Ticker: HP

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Elect Director Delaney M. Bellinger For For

For For Elect Director Kevin G. Cramton 1b

For For Elect Director Randy A. Foutch 1c

For For Elect Director Hans Helmerich 1d

For For Elect Director John W. Lindsay 1e

For For Elect Director Jose R. Mas 1f

For For Elect Director Thomas A. Petrie 1g

For For Elect Director Donald F. Robillard, Jr. 1h

For For Elect Director Edward B. Rust, Jr. 1i

For For Elect Director Mary M. VanDeWeghe 1j

For For Elect Director John D. Zeglis 1k

For For Ratify Ernst & Young LLP as Auditors 2

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

3

Blended Rationale: The minimum vesting period is less than three years.

Against For Approve Omnibus Stock Plan 4

Blended Rationale: The minimum vesting period is less than three years.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Info Edge (India) Limited Meeting Date: 03/03/2020 Country: India

Meeting Type: Special Ticker: 532777

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Loans, Guarantees and Securities to Any Person or Other Body Corporate

For Against

Voter Rationale: lack of relevant details to make an informed voting decision.

Blended Rationale: lack of relevant details to make an informed voting decision.

OMV Petrom SA Meeting Date: 03/03/2020 Country: Romania

Meeting Type: Special Ticker: SNP

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Revoke Sevil Shhaideh as Supervisory Board Member

None For

Against None Elect Supervisory Board Member in Replacement of Sevil Shhaideh

2

Against None Fix Duration of Mandate of Supervisory Board Member

3

Against For Elect Supervisory Board Member in Replacement of Manfred Leitner

4

Voter Rationale: Director details not disclosed so unable to make an informed decision.

Blended Rationale: Director details not disclosed so unable to make an informed decision.

Against For Elect Supervisory Board Member in Replacement of Christopher Veit

5

Voter Rationale: Director details not disclosed so unable to make an informed decision.

Blended Rationale: Director details not disclosed so unable to make an informed decision.

For For Authorize Filing of Required Documents/Other Formalities

6

Chemring Group Plc Meeting Date: 03/04/2020 Country: United Kingdom

Meeting Type: Annual Ticker: CHG

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Chemring Group Plc

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Approve Remuneration Report 2

For For Approve Final Dividend 3

For For Re-elect Carl-Peter Forster as Director 4

For For Re-elect Andrew Davies as Director 5

For For Re-elect Sarah Ellard as Director 6

For For Re-elect Stephen King as Director 7

For For Re-elect Andrew Lewis as Director 8

For For Re-elect Michael Ord as Director 9

For For Re-elect Nigel Young as Director 10

For For Elect Laurie Bowen as Director 11

For For Reappoint KPMG LLP as Auditors 12

For For Authorise Board to Fix Remuneration of Auditors 13

For For Authorise Issue of Equity 14

For For Authorise Issue of Equity without Pre-emptive Rights

15

For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or Other Capital Investment

16

For For Authorise Market Purchase of Ordinary Shares 17

For For Authorise the Company to Call General Meeting with Two Weeks' Notice

18

Fair Isaac Corporation Meeting Date: 03/04/2020 Country: USA

Meeting Type: Annual Ticker: FICO

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Elect Director Braden R. Kelly For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Fair Isaac Corporation Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Fabiola R. Arredondo 1b

For For Elect Director A. George Battle 1c

For For Elect Director James D. Kirsner 1d

For For Elect Director William J. Lansing 1e

For For Elect Director Eva Manolis 1f

For For Elect Director Marc F. McMorris 1g

For For Elect Director Joanna Rees 1h

For For Elect Director David A. Rey 1i

Against For Amend Omnibus Stock Plan 2

Blended Rationale: The dilution exceeds 10 percent.The minimum vesting period is less than three years.

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

3

Blended Rationale: The minimum vesting period is less than three years.

For For Ratify Deloitte & Touche LLP as Auditors 4

Johnson Controls International plc Meeting Date: 03/04/2020 Country: Ireland

Meeting Type: Annual Ticker: JCI

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Elect Director Jean Blackwell For For

For For Elect Director Pierre Cohade 1b

For For Elect Director Michael E. Daniels 1c

For For Elect Director Juan Pablo del Valle Perochena 1d

For For Elect Director W. Roy Dunbar 1e

For For Elect Director Gretchen R. Haggerty 1f

For For Elect Director Simone Menne 1g

For For Elect Director George R. Oliver 1h

For For Elect Director Jurgen Tinggren 1i

For For Elect Director Mark Vergnano 1j

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Johnson Controls International plc Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director R. David Yost 1k

For For Elect Director John D. Young 1l

For For Ratify PricewaterhouseCoopers LLP as Auditors 2a

For For Authorize Board to Fix Remuneration of Auditors 2b

For For Authorize Market Purchases of Company Shares 3

For For Determine Price Range for Reissuance of Treasury Shares

4

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

5

Voter Rationale: Sizable CIC-related severance payments made in 2019

Blended Rationale: Sizable CIC-related severance payments made in 2019

For For Approve the Directors' Authority to Allot Shares 6

For For Approve the Disapplication of Statutory Pre-Emption Rights

7

Petroleo Brasileiro SA Meeting Date: 03/04/2020 Country: Brazil

Meeting Type: Special Ticker: PETR4

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Absorption of Petrobras Negocios Eletronicos S.A. (e-PETRO)

For For

Against For Amend Articles and Consolidate Bylaws 2

Voter Rationale: Bundled resolution where not all of the amendments are improvements to the company's governance standards.

Blended Rationale: Bundled resolution where not all of the amendments are improvements to the company's governance standards.

For For Elect Maria Claudia Guimaraes as Director 3

For None In the Event of a Second Call, the Voting Instructions Contained in this Remote Voting Card May Also be Considered for the Second Call?

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Petroleo Brasileiro SA Meeting Date: 03/04/2020 Country: Brazil

Meeting Type: Special Ticker: PETR4

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Absorption of Petrobras Negocios Eletronicos S.A. (e-PETRO)

For For

Against For Amend Articles and Consolidate Bylaws 2

Voter Rationale: Bundled resolutions where not all amendments are improvements to the company's governance standards.

Blended Rationale: Bundled resolutions where not all amendments are improvements to the company's governance standards.

For For Elect Maria Claudia Guimaraes as Director 3

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Absorption of Petrobras Negocios Eletronicos S.A. (e-PETRO)

1

Against For Amend Articles and Consolidate Bylaws 2

Voter Rationale: Bundled resolutions where not all amendments are improvements to the company's governance standards.

Blended Rationale: Bundled resolutions where not all amendments are improvements to the company's governance standards.

For For Elect Maria Claudia Guimaraes as Director 3

Pressure Technologies Plc Meeting Date: 03/04/2020 Country: United Kingdom

Meeting Type: Annual Ticker: PRES

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Approve Remuneration Report 2

For For Elect Sir Roy Gardner as Director 3

For For Elect Tim Cooper as Director 4

For For Reappoint Grant Thornton UK LLP as Auditors 5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Pressure Technologies Plc Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Authorise Board to Fix Remuneration of Auditors 6

For For Authorise Issue of Equity 7

For For Authorise Market Purchase of Ordinary Shares 8

For For Authorise Issue of Equity without Pre-emptive Rights

9

AmerisourceBergen Corporation Meeting Date: 03/05/2020 Country: USA

Meeting Type: Annual Ticker: ABC

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Ornella Barra For For

For For Elect Director Steven H. Collis 1.2

For For Elect Director D. Mark Durcan 1.3

For For Elect Director Richard W. Gochnauer 1.4

For For Elect Director Lon R. Greenberg 1.5

Against For Elect Director Jane E. Henney 1.6

Voter Rationale: Extensive tenure compromises independence as Lead Independent Director.

Blended Rationale: Extensive tenure compromises independence as Lead Independent Director.

For For Elect Director Kathleen W. Hyle 1.7

For For Elect Director Michael J. Long 1.8

For For Elect Director Henry W. McGee 1.9

For For Elect Director Dennis M. Nally 1.10

For For Ratify Ernst & Young LLP as Auditors 2

For For Advisory Vote to Ratify Named Executive Officers' Compensation

3

For Against Provide Right to Act by Written Consent 4

Voter Rationale: Enhance shareholder rights.

Blended Rationale: Enhance shareholder rights.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

AmerisourceBergen Corporation Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For Against Adopt Policy on Bonus Banking 5

Voter Rationale: This feature may provide additional safeguards for investors and is not overly prescriptive.

Blended Rationale: This feature may provide additional safeguards for investors and is not overly prescriptive.

Bangkok Bank Public Company Limited Meeting Date: 03/05/2020 Country: Thailand

Meeting Type: Special Ticker: BBL

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Acquisition of All Shares in PT Bank Permata Tbk

For For

Against For Other Business 2

Voter Rationale: Lack of information.

Blended Rationale: Lack of information.

COSCO SHIPPING Development Co., Ltd. Meeting Date: 03/05/2020 Country: China

Meeting Type: Special Ticker: 2866

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Approve Purpose and Principles of the Revised Share Option Incentive Scheme

For Against

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Management Institution of the Revised Share Option Incentive Scheme

1b

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

COSCO SHIPPING Development Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Approve Basis of Determining the Participants and the Scope of the Participants

1c

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Source, Number and Allocation of Shares Under the Revised Share Option Incentive Scheme

1d

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Validity Period, Date of Grant, Vesting Period, Exercise Date, Exercise Period and Lock-Up Provisions

1e

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Exercise Price and Gains of the Share Options

1f

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Conditions of Grant and Conditions of Exercise

1g

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Methods and Procedures for Adjustments to the Number and the Exercise Price of the Share Options

1h

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Accounting Treatment of the Revised Share Option Incentive Scheme and Impact on the Operating Results of the Company

1i

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Procedures for Implementation of the Revised Share Option Incentive Scheme, Grant of Share Options and Exercise of Share Options by the Participants

1j

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

COSCO SHIPPING Development Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Approve Rights and Obligations of the Company and the Participants

1k

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Handling of Special Circumstances Under the Revised Share Option Incentive Scheme

1l

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Management, Amendments and Termination of the Revised Share Option Incentive Scheme

1m

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Disclosure in Relation to the Implementation of the Revised Share Option Incentive Scheme

1n

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Proposed Adoption of the Management Measures

2

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Proposed Adoption of the Appraisal Measures

3

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Authorize Board to Deal with All Matters in Relation to the Revised Share Option Incentive Scheme

4

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

COSCO SHIPPING Development Co., Ltd. Meeting Date: 03/05/2020 Country: China

Meeting Type: Special Ticker: 2866

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

COSCO SHIPPING Development Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Approve Purpose and Principles of the Revised Share Option Incentive Scheme

For Against

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Management Institution of the Revised Share Option Incentive Scheme

1b

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Basis of Determining the Participants and the Scope of the Participants

1c

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Source, Number and Allocation of Shares Under the Revised Share Option Incentive Scheme

1d

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Validity Period, Date of Grant, Vesting Period, Exercise Date, Exercise Period and Lock-Up Provisions

1e

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Exercise Price and Gains of the Share Options

1f

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Conditions of Grant and Conditions of Exercise

1g

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Methods and Procedures for Adjustments to the Number and the Exercise Price of the Share Options

1h

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

COSCO SHIPPING Development Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Approve Accounting Treatment of the Revised Share Option Incentive Scheme and Impact on the Operating Results of the Company

1i

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Procedures for Implementation of the Revised Share Option Incentive Scheme, Grant of Share Options and Exercise of Share Options by the Participants

1j

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Rights and Obligations of the Company and the Participants

1k

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Handling of Special Circumstances Under the Revised Share Option Incentive Scheme

1l

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Management, Amendments and Termination of the Revised Share Option Incentive Scheme

1m

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Disclosure in Relation to the Implementation of the Revised Share Option Incentive Scheme

1n

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Proposed Adoption of the Management Measures

2

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Against For Approve Proposed Adoption of the Appraisal Measures

3

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

COSCO SHIPPING Development Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Authorize Board to Deal with All Matters in Relation to the Revised Share Option Incentive Scheme

4

Voter Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Blended Rationale: directors eligible to receive options under the RSOIS are involved in its administration.

Enghouse Systems Limited Meeting Date: 03/05/2020 Country: Canada

Meeting Type: Annual Ticker: ENGH

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Elect Director Stephen J. Sadler For For

For For Elect Director Eric Demirian 1b

For For Elect Director Reid Drury 1c

For For Elect Director John Gibson 1d

For For Elect Director Pierre Lassonde 1e

For For Elect Director Jane Mowat 1f

For For Elect Director Paul Stoyan 1g

For For Approve Ernst & Young LLP as Auditors and Authorize Board to Fix Their Remuneration

2

For For Advisory Vote on Executive Compensation Approach

3

Hologic, Inc. Meeting Date: 03/05/2020 Country: USA

Meeting Type: Annual Ticker: HOLX

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Stephen P. MacMillan For For

For For Elect Director Sally W. Crawford 1.2

For For Elect Director Charles J. Dockendorff 1.3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Hologic, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Scott T. Garrett 1.4

For For Elect Director Ludwig N. Hantson 1.5

For For Elect Director Namal Nawana 1.6

For For Elect Director Christiana Stamoulis 1.7

For For Elect Director Amy M. Wendell 1.8

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

2

Blended Rationale: The minimum vesting period is less than three years.

For For Ratify Ernst & Young LLP as Auditors 3

Huaneng Power International, Inc. Meeting Date: 03/05/2020 Country: China

Meeting Type: Special Ticker: 902

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Change of Part of the Fundraising Investment Projects

For For

For For Elect Zhao Keyu as Director 2

For For Approve Increase of the Amount of the General Mandate to Issue Domestic and/or Overseas Debt Financing Instruments

3

Karnataka Bank Limited Meeting Date: 03/05/2020 Country: India

Meeting Type: Special Ticker: 532652

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Issuance of Bonus Shares For For

For For Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Maanshan Iron & Steel Company Limited Meeting Date: 03/05/2020 Country: China

Meeting Type: Special Ticker: 323

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Wang Qiangmin as Director For For

MACOM Technology Solutions Holdings, Inc. Meeting Date: 03/05/2020 Country: USA

Meeting Type: Annual Ticker: MTSI

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Charles Bland For Withhold

Blended Rationale: The nominee is non-independent and the full board comprises less than 50'% independents.The nominee is a non-independent member of key committees (audit, remuneration, nomination) and the committees comprise less than 100'% independents.

For For Elect Director Stephen Daly 1.2

Withhold For Elect Director Susan Ocampo 1.3

Blended Rationale: The nominee is non-independent and the full board comprises less than 50'% independents.

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

2

Blended Rationale: The minimum vesting period is less than three years.A vote AGAINST this proposal is warranted. Although payouts in the short- and long-term programs are primarily based on rigorous, financial performance metrics, a problematic pay practice occurred for the year in review. The company entered into a new agreement with the new CEO and other new NEOs without removing an entitlement to a problematic excise tax gross-up.

For For Ratify Deloitte & Touche LLP as Auditors 3

Polski Koncern Naftowy ORLEN SA Meeting Date: 03/05/2020 Country: Poland

Meeting Type: Special Ticker: PKN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Elect Meeting Chairman For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Polski Koncern Naftowy ORLEN SA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Agenda of Meeting 4

For For Elect Members of Vote Counting Commission 5

For For Fix Number of Supervisory Board Members 6

Against For Recall Supervisory Board Member 7.1

Voter Rationale: Director details not disclosed.

Blended Rationale: Director details not disclosed.

Against For Elect Supervisory Board Member 7.2

Voter Rationale: Director details not disclosed.

Blended Rationale: Director details not disclosed.

Against For Elect Supervisory Board Chairman 7.3

Voter Rationale: Director details not disclosed.

Blended Rationale: Director details not disclosed.

Saracen Mineral Holdings Limited Meeting Date: 03/05/2020 Country: Australia

Meeting Type: Special Ticker: SAR

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Assistance in Relation to the Acquisition

For For

For For Ratify Past Issuance of Shares to Sophisticated and Professional Investors

2

For For Approve Issuance of Share Rights to Martin Reed

3

For For Approve Issuance of Share Rights to Roric Smith 4

For For Approve Issuance of Share Rights to John Richards

5

For For Approve Issuance of Share Rights to Anthony Kiernan

6

For For Approve Issuance of Share Rights to Samantha Tough

7

For None Approve Section 195 8

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Wartsila Oyj Abp Meeting Date: 03/05/2020 Country: Finland

Meeting Type: Annual Ticker: WRT1V

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Designate Inspector or Shareholder Representative(s) of Minutes of Meeting

For For

For For Acknowledge Proper Convening of Meeting 4

For For Prepare and Approve List of Shareholders 5

For For Accept Financial Statements and Statutory Reports

7

For For Approve Allocation of Income and Dividends of EUR 0.48 hare

8

For For Approve Discharge of Board and President 9

For For Approve Remuneration Policy And Other Terms of Employment For Executive Management

10

For For Establish Nominating Committee 11

For For Approve Remuneration of Directors in the Amount of EUR 140,000 for Chairman, EUR 105,000 for Vice Chairman, and EUR 70,000 for Other Directors; Approve Meeting Fees; Approve Remuneration for Committee Work

12

For For Fix Number of Directors at Eight 13

For For Reelect Maarit Aarni-Sirvio, Karin Falk, Johan Forssell, Tom Johnstone, Risto Murto and Markus Rauramo as Directors; Elect Karen Bomba and Mats Rahmstrom as New Directors

14

For For Approve Remuneration of Auditors 15

For For Ratify PricewaterhouseCoopers as auditor 16

For For Authorize Share Repurchase Program and Reissuance of Repurchased Shares

17

For For Approve Issuance of up to 57 Million Shares without Preemptive Rights

18

WPX Energy, Inc. Meeting Date: 03/05/2020 Country: USA

Meeting Type: Special Ticker: WPX

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

WPX Energy, Inc.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Issue Shares in Connection with Acquisition For For

For For Adjourn Meeting 2

Electro Optic Systems Holdings Limited Meeting Date: 03/06/2020 Country: Australia

Meeting Type: Special Ticker: EOS

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Ratify Past Issuance of Shares to Sophisticated and Professional Investor Clients of Citigroup Global Markets Australia Pty Limited

For For

For For Ratify Past Issuance of Shares to Vendors of EM Solutions Pty Ltd

2

Heptagon Fund Plc - Kopernik Global All-cap Equity Meeting Date: 03/06/2020 Country: Ireland

Meeting Type: Annual Ticker: K7RJ07.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports and Review the Company's Affairs

For For

For For Ratify Grant Thornton as Auditors 2

For For Authorise Board to Fix Remuneration of Auditors 3

Heptagon Fund Plc - Yacktman Us Equity Meeting Date: 03/06/2020 Country: Ireland

Meeting Type: Annual Ticker: K4J8Z9.F

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Heptagon Fund Plc - Yacktman Us Equity

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports and Review the Company's Affairs

For For

For For Ratify Grant Thornton as Auditors 2

For For Authorise Board to Fix Remuneration of Auditors 3

Postal Savings Bank of China Co., Ltd. Meeting Date: 03/06/2020 Country: China

Meeting Type: Special Ticker: 1658

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Amend Articles of Association For For

For For Elect Guo Xinshuang as Director 2

For For Amend Rules and Procedures Regarding General Meetings of Shareholders

3

For For Amend Rules and Procedures Regarding Meetings of Board of Directors

4

Winning Health Technology Group Co. Ltd. Meeting Date: 03/06/2020 Country: China

Meeting Type: Special Ticker: 300253

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Company's Eligibility for Convertible Bonds Issuance

For For

For For Approve Issue Type 2.1

For For Approve Issue Scale 2.2

For For Approve Par Value and Issue Price 2.3

For For Approve Bond Maturity 2.4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Winning Health Technology Group Co. Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Bond Interest Rate 2.5

For For Approve Method and Term for the Repayment of Principal and Interest

2.6

For For Approve Conversion Period 2.7

For For Approve Determination and Adjustment of Conversion Price

2.8

For For Approve Method for Determining the Number of Shares for Conversion and Method on Handling Fractional Shares Upon Conversion

2.9

For For Approve Terms for Downward Adjustment of Conversion Price

2.10

For For Approve Terms of Redemption 2.11

For For Approve Terms of Sell-Back 2.12

For For Approve Dividend Distribution Post Conversion 2.13

For For Approve Issue Manner and Target Subscribers 2.14

For For Approve Placing Arrangement for Shareholders 2.15

For For Approve Bondholders and Bondholders' Meetings

2.16

For For Approve Use of Proceeds 2.17

For For Approve Special Storage Account for Raised Funds

2.18

For For Approve Matters Regarding Guarantee 2.19

For For Approve Resolution Validity Period 2.20

For For Approve Plan for Convertible Bonds Issuance 3

For For Approve Demonstration Analysis Report in Connection to Convertible Bonds Issuance

4

For For Approve Feasibility Analysis Report on the Intended Usage of Raised Funds

5

For For Approve Authorization of Board to Handle All Related Matters

6

For For Approve Impact of Dilution of Current Returns on Major Financial Indicators and the Relevant Measures to be Taken as well as Relevant Undertakings

7

For For Approve Report on the Usage of Previously Raised Funds

8

For For Approve Formulation of Rules and Procedures Regarding Convertible Corporate Bondholders Meeting

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Winning Health Technology Group Co. Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Formulation of Shareholder Return Plan 10

YiChang HEC ChangJiang Pharmaceutical Co., Ltd. Meeting Date: 03/06/2020 Country: China

Meeting Type: Special Ticker: 1558

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Part Two of the Proposed Amendments to the Articles of Association

For For

YiChang HEC ChangJiang Pharmaceutical Co., Ltd. Meeting Date: 03/06/2020 Country: China

Meeting Type: Special Ticker: 1558

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Part One of the Proposed Amendments to the Articles of Association

For For

For For Approve Part Two of the Proposed Amendments to the Articles of Association

2

For For Amend Rules and Procedures Regarding General Meetings of Shareholders

3

National Bank of Kuwait SAK Meeting Date: 03/07/2020 Country: Kuwait

Meeting Type: Annual/Special Ticker: NBK

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations for FY 2019

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

National Bank of Kuwait SAK Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Auditors' Report on Company Financial Statements for FY 2019

2

For For Approve Special Report on Violations and Penalties for FY 2019

3

For For Accept Financial Statements and Statutory Reports for FY 2019

4

For For Approve Discontinuing the Statutory Reserve Transfer for FY 2019

5

For For Approve Dividends of KWD 0.035 per Share 6.1

For For Authorize Bonus Shares Issue Representing 5 Percent of the Share Capital

6.2

For For Authorize Share Repurchase Program of Up to 10 Percent of Issued Share Capital

7

Against For Authorize Issuance of Bonds/Debentures/Sukuk and Authorize Board to Set Terms of Issuance

8

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

Against For Approve Related Party Transactions for FY 2020 9

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

Against For Approve Directors' Loans for FY 2020 10

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

For For Approve Discharge of Directors and Absence of their Remuneration for FY 2019

11

For For Ratify Auditors and Fix Their Remuneration for FY 2020

12

For For Authorize Capitalization of Reserves for Bonus Issue Representing 5% of Share Capital

1

For For Amend Article 5 of Bylaws to Reflect Changes in Capital

2.1

For For Amend Article 25 of Bylaws Re: Board Composition, Election and Term

2.2

For For Amend Article 38 of Bylaws Re: General Assembly Voting

2.3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

PVR Limited Meeting Date: 03/07/2020 Country: India

Meeting Type: Special Ticker: 532689

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve PVR Employee Stock Option Plan 2020 and Grant of Options under the Plan

For Against

Voter Rationale: stock options would be issued with exercise price at discount to market price.

Blended Rationale: stock options would be issued with exercise price at discount to market price.

Shandong Chenming Paper Holdings Limited Meeting Date: 03/09/2020 Country: China

Meeting Type: Special Ticker: 200488

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve the Extension of Time in Purchase of Shares of the Company by the Controlling Shareholder

For For

Aygaz AS Meeting Date: 03/10/2020 Country: Turkey

Meeting Type: Annual Ticker: AYGAZ

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Open Meeting and Elect Presiding Council of Meeting

For For

For For Accept Board Report 2

For For Accept Audit Report 3

For For Accept Financial Statements 4

For For Approve Discharge of Board 5

For For Approve Allocation of Income 6

For For Elect Directors 7

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Aygaz AS Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Remuneration Policy and Director Remuneration for 2019

8

Against For Approve Director Remuneration 9

Voter Rationale: Lack of disclosure so unable to make an informed decision.

Blended Rationale: Lack of disclosure so unable to make an informed decision.

For For Ratify External Auditors 10

Against For Approve Upper Limit of Donations for 2020 and Receive Information on Donations Made in 2019

11

Voter Rationale: Lack of disclosure so unable to make an informed decision.

Blended Rationale: Lack of disclosure so unable to make an informed decision.

For For Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose

13

Banco Bradesco SA Meeting Date: 03/10/2020 Country: Brazil

Meeting Type: Annual Ticker: BBDC4

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2019

For For

For For Approve Allocation of Income and Dividends 2

For For Fix Number of Directors at Ten 3

Against None Do You Wish to Adopt Cumulative Voting for the Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?

4

For For Elect Luiz Carlos Trabuco Cappi as Board Chairman

5.1

For For Elect Carlos Alberto Rodrigues Guilherme as Board Vice-Chairman

5.2

For For Elect Denise Aguiar Alvarez as Director 5.3

For For Elect Joao Aguiar Alvarez as Director 5.4

For For Elect Milton Matsumoto as Director 5.5

For For Elect Alexandre da Silva Gluher as Director 5.6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Banco Bradesco SA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Josue Augusto Pancini as Director 5.7

For For Elect Mauricio Machado de Minas as Director 5.8

For For Elect Walter Luis Bernardes Albertoni as Independent Director

5.9

For For Elect Samuel Monteiro dos Santos Junior as Independent Director

5.10

For None In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below?

6

Abstain For Elect Fiscal Council Members 8

Voter Rationale: Concentrating votes on a minority fiscal council member

Blended Rationale: Concentrating votes on a minority fiscal council member

Against None In Case One of the Nominees Leaves the Fiscal Council Slate Due to a Separate Minority Election, as Allowed Under Articles 161 and 240 of the Brazilian Corporate Law, May Your Votes Still Be Counted for the Proposed Slate?

9

For None Elect Ivanyra Maura de Medeiros Correa as Fiscal Council Member and Genival Francisco da Silva as Alternate Appointed by Minority Shareholder

10

For For Approve Remuneration of Company's Management

11

For For Approve Remuneration of Fiscal Council Members

12

Banco Bradesco SA Meeting Date: 03/10/2020 Country: Brazil

Meeting Type: Special Ticker: BBDC4

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Authorize Capitalization of Reserves for Bonus Issue and Amend Article 6 Accordingly

For For

For For Amend Article 8 2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Banco Bradesco SA Meeting Date: 03/10/2020 Country: Brazil

Meeting Type: Annual Ticker: BBDC4

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Cristiana Pereira as Fiscal Council Member and Reginaldo Ferreira Alexandre as Alternate Appointed by Preferred Shareholder

None For

Banco Bradesco SA Meeting Date: 03/10/2020 Country: Brazil

Meeting Type: Annual Ticker: BBDC4

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

5 Elect Cristiana Pereira as Fiscal Council Member and Reginaldo Ferreira Alexandre as Alternate Appointed by Preferred Shareholder

None For

Bank of Communications Co., Ltd. Meeting Date: 03/10/2020 Country: China

Meeting Type: Special Ticker: 3328

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve 2018 Remuneration Plan of the Directors

For For

For For Approve 2018 Remuneration Plan of the Supervisors

2

For For Approve Issuance of Undated Capital Bonds 3

For For Approve Capital Increase of Wholly-owned Subsidiary

4

For For Elect Li Longcheng as Director 5

For For Elect Zhang Minsheng as Supervisor 6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Emirates NBD PJSC Meeting Date: 03/10/2020 Country: United Arab Emirates

Meeting Type: Annual Ticker: EMIRATESNBD

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations and Financial Position for FY 2019

For For

For For Approve Auditors' Report on Company Financial Statements for FY 2019

2

For For Accept Financial Statements and Statutory Reports for FY 2019

3

For For Elect Sharia Supervisory Board Members (Bundled)

4

For For Approve Dividends of AED 0.40 per Share 5

For For Approve Remuneration of Directors 6

For For Approve Discharge of Directors for FY 2019 7

For For Approve Discharge of Auditors for FY 2019 8

For For Approve Suspension of Transfer to Legal and Statutory Reserve

9

For For Ratify Auditors and Fix Their Remuneration for FY 2020

10

For For Approve Board Proposal Re: Non-convertible Securities to be Issued by the Company

11

For For Amend Article 7(a) of Association Re: Stock Ownership to UAE Nationals

12

For For Amend Article 6 of Association Re: Corporate Purpose

13

QUALCOMM Incorporated Meeting Date: 03/10/2020 Country: USA

Meeting Type: Annual Ticker: QCOM

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Elect Director Mark Fields For For

For For Elect Director Jeffrey W. Henderson 1b

For For Elect Director Ann M. Livermore 1c

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

QUALCOMM Incorporated Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Harish Manwani 1d

For For Elect Director Mark D. McLaughlin 1e

For For Elect Director Steve Mollenkopf 1f

For For Elect Director Clark T. "Sandy" Randt, Jr. 1g

For For Elect Director Irene B. Rosenfeld 1h

For For Elect Director Kornelis "Neil" Smit 1i

For For Elect Director Anthony J. Vinciquerra 1j

For For Ratify PricewaterhouseCoopers LLP as Auditors 2

Against For Amend Omnibus Stock Plan 3

Blended Rationale: The dilution exceeds 10 percent.The minimum vesting period is less than three years.

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

4

Blended Rationale: The minimum vesting period is less than three years.A vote AGAINST this proposal is warranted. For FY2019, the CEO received a $3.6 million special, fully vested equity award in connection with the settlement and multi-year license and supply agreements entered into with Apple and related parties. While the rationale for the special award is compelling, there are insufficiently mitigated concerns surrounding both the decision to grant special equity awards in two consecutive years and the absence of any performance- or service-vesting criteria attached to this year's award.Concerns are also noted with respect to the magnitude of the CEO's annual LTI awards. While the company's long-term performance has trailed peers as of the end of FY2019, the CEO received a $2 million increase to the annualized value of his target LTI opportunity for the second consecutive year, bringing the target annual value of his long-term incentives in line with median total pay of company-selected peers.

One Year One Year Advisory Vote on Say on Pay Frequency 5

Shengyi Technology Co., Ltd. Meeting Date: 03/10/2020 Country: China

Meeting Type: Special Ticker: 600183

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Amendments to Articles of Association For For

For For Elect Li Jing as Non-independent Director 2.1

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Toll Brothers, Inc. Meeting Date: 03/10/2020 Country: USA

Meeting Type: Annual Ticker: TOL

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Robert I. Toll For For

For For Elect Director Douglas C. Yearley, Jr. 1.2

For For Elect Director Edward G. Boehne 1.3

For For Elect Director Richard J. Braemer 1.4

For For Elect Director Stephen F. East 1.5

For For Elect Director Christine N. Garvey 1.6

For For Elect Director Karen H. Grimes 1.7

For For Elect Director Carl B. Marbach 1.8

For For Elect Director John A. McLean 1.9

For For Elect Director Stephen A. Novick 1.10

For For Elect Director Wendell E. Pritchett 1.11

For For Elect Director Paul E. Shapiro 1.12

For For Ratify Ernst & Young LLP as Auditors 2

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

3

Blended Rationale: The minimum vesting period is less than three years.

Analog Devices, Inc. Meeting Date: 03/11/2020 Country: USA

Meeting Type: Annual Ticker: ADI

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Elect Director Ray Stata For For

For For Elect Director Vincent Roche 1b

For For Elect Director James A. Champy 1c

For For Elect Director Anantha P. Chandrakasan 1d

For For Elect Director Bruce R. Evans 1e

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Analog Devices, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Edward H. Frank 1f

For For Elect Director Karen M. Golz 1g

For For Elect Director Mark M. Little 1h

For For Elect Director Kenton J. Sicchitano 1i

For For Elect Director Susie Wee 1j

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

2

Blended Rationale: The minimum vesting period is less than three years.

For For Approve Omnibus Stock Plan 3

For For Ratify Ernst & Young LLP as Auditors 4

Avivasa Emeklilik ve Hayat AS Meeting Date: 03/11/2020 Country: Turkey

Meeting Type: Annual Ticker: AVISA

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Open Meeting and Elect Presiding Council of Meeting

For For

For For Accept Board Report 2

For For Accept Audit Report 3

For For Accept Financial Statements 4

For For Approve Discharge of Board 5

For For Approve Allocation of Income 6

Against For Approve Director Remuneration 7

Voter Rationale: Lack of disclosure so unable to make an informed decision.

Blended Rationale: Lack of disclosure so unable to make an informed decision.

Against For Ratify Director Appointments 8

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

For For Ratify External Auditors 9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Avivasa Emeklilik ve Hayat AS Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Approve Upper Limit of Donations for 2020 11

Voter Rationale: Lack of disclosure so unable to make an informed decision.

Blended Rationale: Lack of disclosure so unable to make an informed decision.

For For Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose

12

Daetwyler Holding AG Meeting Date: 03/11/2020 Country: Switzerland

Meeting Type: Annual Ticker: DAE

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Accept Financial Statements and Statutory Reports

For For

Against For Approve Remuneration Report (Non-Binding) 1.2

Voter Rationale: Payouts can be made for underperformance.

Blended Rationale: Payouts can be made for underperformance.

For For Approve Allocation of Income and Dividends of CHF 0.60 per Registered Share and CHF 3.00 per Bearer Share

2

For For Approve Discharge of Board and Senior Management

3

For For Nominate Juerg Fedier as Candidate at the Special Meeting of Holder of Bearer Shares

4.1.1

For For Nominate Jens Breu as Candidate at the Special Meeting of Holder of Bearer Shares

4.1.2

Against For Reelect Paul Haelg as Director and Board Chairman

4.2

Voter Rationale: Lack of independence on the board and audit committee.

Blended Rationale: Lack of independence on the board and audit committee.

Against For Reelect Hanspeter Faessler as Director 4.3

Voter Rationale: Lack of independence on the board and audit committee.

Blended Rationale: Lack of independence on the board and audit committee.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Daetwyler Holding AG Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Reelect Claude Cornaz as Director 4.4

Voter Rationale: Lack of independence on the board and audit committee.

Blended Rationale: Lack of independence on the board and audit committee.

Against For Reelect Gabi Huber as Director 4.5

Voter Rationale: Lack of independence on the board and audit committee.

Blended Rationale: Lack of independence on the board and audit committee.

Against For Reelect Hanno Ulmer as Director 4.6

Voter Rationale: Lack of independence on the board and audit committee.

Blended Rationale: Lack of independence on the board and audit committee.

Against For Reelect Zhiqiang Zhang as Director 4.7

Voter Rationale: Lack of independence on the board and audit committee.

Blended Rationale: Lack of independence on the board and audit committee.

For For Reelect Juerg Fedier as Director Representing Bearer Shareholders at the Special Meeting of Holders of Bearer Shares

4.8.1

For For Reelect Jens Breu as Director Representing Bearer Shareholders at the Special Meeting of Holders of Bearer Shares

4.8.2

Against For Reappoint Hanspeter Faessler as Member of the Nomination and Compensation Committee

5.1

Voter Rationale: Lack of independence on a key committee.

Blended Rationale: Lack of independence on a key committee.

Against For Reappoint Claude Cornaz as Member of the Nomination and Compensation Committee

5.2

Voter Rationale: Lack of independence on a key committee.

Blended Rationale: Lack of independence on a key committee.

For For Appoint Jens Breu as Member of the Nomination and Compensation Committee

5.3

For For Ratify KPMG as Auditors 6

For For Designate Remo Baumann as Independent Proxy

7

For For Approve Remuneration of Directors in the Amount of CHF 2.4 Million

8.1

For For Approve Remuneration of Executive Committee in the Amount of CHF 8.7 Million

8.2

Against For Transact Other Business (Voting) 9

Voter Rationale: Other business not disclosed.

Blended Rationale: Other business not disclosed.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Frasers Commercial Trust Meeting Date: 03/11/2020 Country: Singapore

Meeting Type: Special Ticker: ND8U

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve FCOT Trust Deed Amendments For For

Frasers Commercial Trust Meeting Date: 03/11/2020 Country: Singapore

Meeting Type: Court Ticker: ND8U

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Proposed Trust Scheme For For

Frasers Logistics & Industrial Trust Meeting Date: 03/11/2020 Country: Singapore

Meeting Type: Special Ticker: BUOU

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Merger For For

For For Approve Issuance of Consideration Units 2

For For Approve Asset Acquisition 3

Netcompany Group A/S Meeting Date: 03/11/2020 Country: Denmark

Meeting Type: Annual Ticker: NETC

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Netcompany Group A/S

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Accept Financial Statements and Statutory Reports

For For

For For Approve Allocation of Income and Omission of Dividends

3

For For Approve Remuneration of Directors in the Amount of DKK 1.05 Million for Chairman, DKK 700,000 for Vice Chair and DKK 350,000 for Other Directors; Approve Remuneration for Committee Work; Approve Travel Fees

4

For For Reelect Bo Rygaard (Chairman) as Director 5a

For For Reelect Pernille Fabricius (Vice Chairman) as Director

5b

For For Reelect Juha Christensen as Director 5c

For For Reelect Scanes Bentley as Director 5d

For For Reelect Robbert Kuppens as Director 5e

For For Ratify Deloitte as Auditors 6

Against For Approve Guidelines for Incentive-Based Compensation for Executive Management and Board

8.a

Voter Rationale: Large base salary increases which cause excessive payouts from the restricted stock plan.

Blended Rationale: Large base salary increases which cause excessive payouts from the restricted stock plan.

For For Amend Articles Re: Add Item Regarding Presentation of and Advisory Vote on the Remuneration Report to the Agenda for the Annual General Meeting

8.b

Pandora AS Meeting Date: 03/11/2020 Country: Denmark

Meeting Type: Annual Ticker: PNDORA

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Accept Financial Statements and Statutory Reports

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Pandora AS Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Remuneration of Directors for 2020 in the Amount of DKK 1.5 Million for Chairman, DKK 750,000 for Vice Chairman, and DKK 500,000 for Other Directors; Approve Remuneration for Committee Work

3

For For Approve Allocation of Income and Dividends of DKK 9 Per Share

4

For For Reelect Peter A. Ruzicka (Chair) as Director 5.1

For For Reelect Christian Frigast (Vice Chair) as Director 5.2

For For Reelect Andrea Dawn Alvey as Director 5.3

For For Reelect Ronica Wang as Director 5.4

For For Reelect Birgitta Stymne Goransson as Director 5.5

For For Reelect Isabelle Parize as Director 5.6

For For Elect Catherine Spindler as New Director 5.7

For For Elect Marianne Kirkegaard as New Director 5.8

For For Ratify Ernst & Young as Auditor 6

For For Approve Discharge of Management and Board 7

For For Approve DKK 8 Million Reduction in Share Capital via Share Cancellation

8.1

For For Amend Articles Re: Agenda of Annual General Meeting

8.2

For For Authorize Share Repurchase Program 8.3

For For Approve Guidelines for Incentive-Based Compensation for Executive Management and Board

8.4

For For Authorize Editorial Changes to Adopted Resolutions in Connection with Registration with Danish Authorities

8.5

S.N.G.N. Romgaz S.A Meeting Date: 03/11/2020 Country: Romania

Meeting Type: Special Ticker: SNG

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Procurement of Legal Consulting, Assistance, and Representation Services

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

S.N.G.N. Romgaz S.A Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Authorize Filing of Required Documents/Other Formalities

2

TE Connectivity Ltd. Meeting Date: 03/11/2020 Country: Switzerland

Meeting Type: Annual Ticker: TEL

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Elect Director Pierre R. Brondeau For For

For For Elect Director Terrence R. Curtin 1b

For For Elect Director Carol A. ('John') Davidson 1c

For For Elect Director Lynn A. Dugle 1d

For For Elect Director William A. Jeffrey 1e

For For Elect Director David M. Kerko 1f

For For Elect Director Thomas J. Lynch 1g

For For Elect Director Yong Nam 1h

For For Elect Director Daniel J. Phelan 1i

For For Elect Director Abhijit Y. Talwalkar 1j

For For Elect Director Mark C. Trudeau 1k

For For Elect Director Dawn C. Willoughby 1l

For For Elect Director Laura H. Wright 1m

For For Elect Board Chairman Thomas J. Lynch 2

For For Elect Daniel J. Phelan as Member of Management Development and Compensation Committee

3a

For For Elect Abhijit Y. Talwalkar as Member of Management Development and Compensation Committee

3b

For For Elect Mark C. Trudeau as Member of Management Development and Compensation Committee

3c

For For Elect Dawn C. Willoughby as Member of Management Development and Compensation Committee

3d

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

TE Connectivity Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Designate Rene Schwarzenbach as Independent Proxy

4

For For Accept Annual Report for Fiscal Year Ended September 27, 2019

5.1

For For Accept Statutory Financial Statements for Fiscal Year Ended September 27, 2019

5.2

For For Approve Consolidated Financial Statements for Fiscal Year Ended September 27, 2019

5.3

For For Approve Discharge of Board and Senior Management

6

For For Ratify Deloitte & Touche LLP as Independent Registered Public Accounting Firm for Fiscal Year 2020

7.1

For For Ratify Deloitte AG as Swiss Registered Auditors 7.2

For For Ratify PricewaterhouseCoopers AG as Special Auditors

7.3

For For Advisory Vote to Ratify Named Executive Officers' Compensation

8

For For Approve the Increase in Maximum Aggregate Remuneration of Executive Management

9

For For Approve the Increase in Maximum Aggregate Remuneration of Board of Directors

10

For For Approve Allocation of Available Earnings at September 27, 2019

11

For For Approve Declaration of Dividend 12

Against For Amend Articles of Association Re: Authorized Capital

13

Voter Rationale: excessive dilution

Blended Rationale: excessive dilution

For For Approve Reduction of Share Capital 14

Against For Adjourn Meeting 15

Voter Rationale: an item on the agenda does not warrant support.

Blended Rationale: an item on the agenda does not warrant support.

The RMR Group Inc. Meeting Date: 03/11/2020 Country: USA

Meeting Type: Annual Ticker: RMR

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

The RMR Group Inc.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Jennifer B. Clark For For

Withhold For Elect Director Ann Logan 1.2

Blended Rationale: WITHHOLD votes are warranted for Governance Committee members Ann Logan, Rosen Plevneliev, and Walter Watkins, Jr. for a material governance failure. The company's governing documents prohibit shareholders' ability to amend the bylaws.

Withhold For Elect Director Rosen Plevneliev 1.3

Blended Rationale: Refer to Item 1.2

For For Elect Director Adam D. Portnoy 1.4

Withhold For Elect Director Walter C. Watkins, Jr. 1.5

Blended Rationale: Refer to Item 1.2

For For Ratify Ernst & Young LLP as Auditors 2

The Walt Disney Company Meeting Date: 03/11/2020 Country: USA

Meeting Type: Annual Ticker: DIS

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Elect Director Susan E. Arnold For For

For For Elect Director Mary T. Barra 1b

For For Elect Director Safra A. Catz 1c

For For Elect Director Francis A. deSouza 1d

For For Elect Director Michael B.G. Froman 1e

For For Elect Director Robert A. Iger 1f

Against For Elect Director Maria Elena Lagomasino 1g

Voter Rationale: chair of the compensation committee on a board with continued concerns around pay-for-performance misalignment

Blended Rationale: chair of the compensation committee on a board with continued concerns around pay-for-performance misalignment

For For Elect Director Mark G. Parker 1h

For For Elect Director Derica W. Rice 1i

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

The Walt Disney Company Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Ratify PricewaterhouseCoopers LLP as Auditors 2

For For Advisory Vote to Ratify Named Executive Officers' Compensation

3

For For Amend Omnibus Stock Plan 4

For Against Report on Lobbying Payments and Policy 5

Voter Rationale: For a fifth consecutive year the company is being asked to provide greater transparency on its lobbying activities. While it is acknowledged that the company has improved its disclosure in recent years, with a detailed policy on political contributions and payments to trade associations, there is limited evidence that the board has direct oversight and is monitoring the potential misalignment between the company and the associations of which it is a member.

Blended Rationale: For a fifth consecutive year the company is being asked to provide greater transparency on its lobbying activities. While it is acknowledged that the company has improved its disclosure in recent years, with a detailed policy on political contributions and payments to trade associations, there is limited evidence that the board has direct oversight and is monitoring the potential misalignment between the company and the associations of which it is a member.

Applied Materials, Inc. Meeting Date: 03/12/2020 Country: USA

Meeting Type: Annual Ticker: AMAT

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Elect Director Judy Bruner For For

For For Elect Director Xun (Eric) Chen 1b

For For Elect Director Aart J. de Geus 1c

For For Elect Director Gary E. Dickerson 1d

For For Elect Director Stephen R. Forrest 1e

For For Elect Director Thomas J. Iannotti 1f

For For Elect Director Alexander A. Karsner 1g

For For Elect Director Adrianna C. Ma 1h

For For Elect Director Yvonne McGill 1i

For For Elect Director Scott A. McGregor 1j

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

2

Blended Rationale: The minimum vesting period is less than three years.

For For Ratify KPMG LLP as Auditors 3

For For Provide Right to Act by Written Consent 4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Cabot Corporation Meeting Date: 03/12/2020 Country: USA

Meeting Type: Annual Ticker: CBT

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Juan Enriquez For For

For For Elect Director Sean D. Keohane 1.2

For For Elect Director William C. Kirby 1.3

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

2

Blended Rationale: The minimum vesting period is less than three years.

For For Ratify Deloitte & Touche LLP as Auditors 3

F5 Networks, Inc. Meeting Date: 03/12/2020 Country: USA

Meeting Type: Annual Ticker: FFIV

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Elect Director A. Gary Ames For For

For For Elect Director Sandra E. Bergeron 1b

For For Elect Director Deborah L. Bevier 1c

For For Elect Director Michel Combes 1d

For For Elect Director Michael L. Dreyer 1e

For For Elect Director Alan J. Higginson 1f

For For Elect Director Peter S. Klein 1g

For For Elect Director Francois Locoh-Donou 1h

For For Elect Director Nikhil Mehta 1i

For For Elect Director Marie E. Myers 1j

For For Amend Omnibus Stock Plan 2

For For Ratify PricewaterhouseCoopers LLP as Auditors 3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

F5 Networks, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

4

Blended Rationale: The minimum vesting period is less than three years.

Janus Henderson Fund - United Kingdom Absolute Return Fund Meeting Date: 03/12/2020 Country: Luxembourg

Meeting Type: Annual Ticker: VBM7L4.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Receive and Approve Board's and Auditor's Reports

For For

For For Approve Financial Statements 2

For For Approve Allocation of Income 3

For For Approve Dividends 4

For For Approve Discharge of Directors 5

For For Re-Elect Kevin Adams as Director 6.a

For For Re-Elect Les Aitkenhead as Director 6.b

For For Re-Elect Jean-Claude Wolter as Director 6.c

For For Re-Elect Joanna Dentskevich as Director 6.d

For For Re-Elect Jeremy Vickerstaff as Director 6.e

For For Re-Elect James Bowers as Director 6.f

For For Re-Elect Steven de Vries as Director 6.g

For For Approve Remuneration of Director Kevin Adams 7.a

For For Approve Remuneration of Director Les Aitkenhead

7.b

For For Approve Remuneration of Director Jean-Claude Wolter

7.c

For For Approve Remuneration of Director Joanna Dentskevich

7.d

For For Renew Appointment of PricewaterhouseCoopers as Auditor

8

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Janus Henderson Fund - United Kingdom Absolute Return Fund Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Transact Other Business (Voting) 9

Voter Rationale: Other business not disclosed.

Blended Rationale: Other business not disclosed.

Banco Bilbao Vizcaya Argentaria SA Meeting Date: 03/13/2020 Country: Spain

Meeting Type: Annual Ticker: BBVA

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Approve Consolidated and Standalone Financial Statements

For For

For For Approve Non-Financial Information Statement 1.2

For For Approve Allocation of Income and Dividends 1.3

For For Approve Discharge of Board 1.4

For For Reelect Lourdes Maiz Carro as Director 2.1

For For Reelect Susana Rodriguez Vidarte as Director 2.2

For For Elect Raul Catarino Galamba de Oliveira as Director

2.3

For For Elect Ana Leonor Revenga Shanklin as Director 2.4

For For Elect Carlos Vicente Salazar Lomelin as Director 2.5

For For Fix Maximum Variable Compensation Ratio 3

For For Renew Appointment of KPMG Auditores as Auditor

4

For For Authorize Board to Ratify and Execute Approved Resolutions

5

For For Advisory Vote on Remuneration Report 6

Banco Bilbao Vizcaya Argentaria SA Meeting Date: 03/13/2020 Country: Spain

Meeting Type: Annual Ticker: BBVA

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Banco Bilbao Vizcaya Argentaria SA

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Approve Consolidated and Standalone Financial Statements

For For

For For Approve Non-Financial Information Statement 1.2

For For Approve Allocation of Income and Dividends 1.3

For For Approve Discharge of Board 1.4

For For Reelect Lourdes Maiz Carro as Director 2.1

For For Reelect Susana Rodriguez Vidarte as Director 2.2

For For Elect Raul Catarino Galamba de Oliveira as Director

2.3

For For Elect Ana Leonor Revenga Shanklin as Director 2.4

For For Elect Carlos Vicente Salazar Lomelin as Director 2.5

For For Fix Maximum Variable Compensation Ratio 3

For For Renew Appointment of KPMG Auditores as Auditor

4

For For Authorize Board to Ratify and Execute Approved Resolutions

5

For For Advisory Vote on Remuneration Report 6

GS Home Shopping, Inc. Meeting Date: 03/13/2020 Country: South Korea

Meeting Type: Annual Ticker: 028150

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Ho-seong as Inside Director 2.1

For For Elect Kim Won-sik as Inside Director 2.2

For For Elect Ju Woon-seok as Inside Director 2.3

For For Elect Oh Jin-seok as Non-Independent Non-Executive Director

2.4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

GS Home Shopping, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Won Jong-seung as Non-Independent Non-Executive Director

2.5

For For Elect Lee In-mu as Outside Director 2.6

For For Elect Lee In-mu as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

KOREA PETROCHEMICAL IND Co., Ltd. Meeting Date: 03/13/2020 Country: South Korea

Meeting Type: Annual Ticker: 006650

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Jeong Young-tae as Inside Director For For

For For Elect Lee Cheol-su as Outside Director 1.2

For For Elect Ko Young-chang as Outside Director 1.3

For For Appoint Choi Yong-seok as Internal Auditor 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

Against For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Voter Rationale: proposed remuneration limit is excessive and lack of justification

Blended Rationale: proposed remuneration limit is excessive and lack of justification

Kumho Petrochemical Co., Ltd. Meeting Date: 03/13/2020 Country: South Korea

Meeting Type: Annual Ticker: 011780

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Lee Jae-gyeong as Outside Director 2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Kumho Petrochemical Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Lee Jae-gyeong as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Mapfre SA Meeting Date: 03/13/2020 Country: Spain

Meeting Type: Annual Ticker: MAP

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Consolidated and Standalone Financial Statements

For For

For For Approve Integrated Report for Fiscal Year 2019 Including Consolidated Non-Financial Information Report

2

For For Approve Allocation of Income and Dividends 3

For For Approve Discharge of Board 4

For For Reelect Ignacio Baeza Gomez as Director 5

For For Reelect Jose Antonio Colomer Guiu as Director 6

For For Reelect Maria Leticia de Freitas Costa as Director

7

For For Ratify Appointment of and Elect Rosa Maria Garcia Garcia as Director

8

Against For Approve Remuneration Policy 9

Voter Rationale: Additional bonus scheme arrangement has not been justified, leading to a large increase in potential payouts.

Blended Rationale: Additional bonus scheme arrangement has not been justified, leading to a large increase in potential payouts.

Against For Advisory Vote on Remuneration Report 10

Voter Rationale: Excessive pension contributions as well as a lack of disclosure around the performance targets used in the LTIP.

Blended Rationale: Excessive pension contributions as well as a lack of disclosure around the performance targets used in the LTIP.

For For Authorize Board to Delegate the Powers Conferred by the General Meeting in Favor of the Executive Committee

11

For For Authorize Board to Ratify and Execute Approved Resolutions

12

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Mapfre SA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Authorize Board to Clarify or Interpret Preceding Resolutions

13

Meritz Fire & Marine Insurance Co., Ltd. Meeting Date: 03/13/2020 Country: South Korea

Meeting Type: Annual Ticker: 000060

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Dong-seok as Outside Director 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

MERITZ SECURITIES Co., Ltd. Meeting Date: 03/13/2020 Country: South Korea

Meeting Type: Annual Ticker: 008560

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Bae Jun-su as Inside Director 3.1

For For Elect Kim Seok-jin as Outside Director 3.2

For For Elect Koo Jeong-han as Outside Director to Serve as an Audit Committee Member

4

For For Elect Kim Seok-jin as a Member of Audit Committee

5

For For Approve Total Remuneration of Inside Directors and Outside Directors

6

For For Approve Terms of Retirement Pay 7

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Midea Group Co. Ltd. Meeting Date: 03/13/2020 Country: China

Meeting Type: Special Ticker: 000333

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Issuance of Debt Financing Instruments

For For

Trusco Nakayama Corp. Meeting Date: 03/13/2020 Country: Japan

Meeting Type: Annual Ticker: 9830

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Nakayama, Tetsuya For For

For For Elect Director Yabuno, Tadahisa 1.2

For For Elect Director Miyata, Shinsaku 1.3

For For Elect Director Nakai, Kazuo 1.4

For For Elect Director Kazumi, Atsushi 1.5

For For Elect Director Naoyoshi, Hideki 1.6

For For Elect Director Saito, Kenichi 1.7

For For Elect Director Hagihara, Kuniaki 1.8

For For Elect Director Suzuki, Takako 1.9

For For Appoint Statutory Auditor Kamakura, Hiroho 2

Bajaj Finserv Limited Meeting Date: 03/14/2020 Country: India

Meeting Type: Special Ticker: 532978

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Adopt New Articles of Association For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Bajaj Finserv Limited Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Approve Limit on Foreign Portfolio Investors' Investment

2

Voter Rationale: restrictive cap on foreign ownership

Blended Rationale: restrictive cap on foreign ownership

MAS Financial Services Limited Meeting Date: 03/14/2020 Country: India

Meeting Type: Special Ticker: 540749

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Reelect Daksha Niranjan Shah as Director For For

Bajaj Finance Limited Meeting Date: 03/15/2020 Country: India

Meeting Type: Special Ticker: 500034

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Amend Articles of Association - Board Related For For

Against For Approve Limit on Foreign Portfolio Investors' Investment

2

Voter Rationale: market lagging practice and potential constraints on efficient price discovery

Blended Rationale: market lagging practice and potential constraints on efficient price discovery

For For Approve Increase in Borrowing Powers 3

For For Approve Pledging of Assets for Debt 4

Commercial International Bank (Egypt) SAE Meeting Date: 03/15/2020 Country: Egypt

Meeting Type: Annual/Special Ticker: COMI

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Commercial International Bank (Egypt) SAE

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations for FY 2019

For For

For For Approve Auditors' Report on Company Financial Statements for FY 2019

2

For For Accept Financial Statements and Statutory Reports for FY 2019

3

For For Approve Allocation of Income for FY 2019 and Authorize Board to Fix and Distribute Employees' Share in the Company's Profits

4

For For Authorize Capital Issuances for Use in Employee Stock Purchase Plan and Amend Articles 6 and 7 of Bylaws Accordingly

5

For For Authorize Capitalization of Reserves for Bonus Issue Re: 1:3 and Amend Articles 6 and 7 to reflect the Increase of Capital

6

For For Approve Discharge of Directors for FY 2019 7

For For Ratify Auditors and Fix Their Remuneration for FY 2020

8

For For Elect Amin Al Arab as Director 9.1

For For Elect Hussein Abaza as Director 9.2

For For Elect Bijan Khosrowshahi as Director 9.3

For For Elect Amani Abou Zeid as Director 9.4

For For Elect Magda Habib as Director 9.5

For For Elect Paresh Sukthankar as Director 9.6

For For Elect Rajeev Kakar as Director 9.7

For For Elect Sherif Samy as Director 9.8

For For Approve Remuneration of Directors for FY 2020 10

For For Approve Remuneration of Audit Committee for FY 2020

11

For For Approve Charitable Donations for FY 2019 and 2020

12

For For Authorize Issuance of Bonds or Subordinated Loans of EGP 15 Billion

1

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Dubai Islamic Bank PJSC Meeting Date: 03/15/2020 Country: United Arab Emirates

Meeting Type: Annual Ticker: DIB

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations and Financial Position for FY 2019

For For

For For Approve Auditors' Report on Company Financial Statements for FY 2019

2

For For Approve Shariah Supervisory Board Report for FY 2019

3

For For Accept Financial Statements and Statutory Reports for FY 2019

4

For For Approve Dividends Representing 35 Percent of Share Capital

5

For For Approve Remuneration of Directors 6

For For Approve Discharge of Directors for FY 2019 7

For For Approve Discharge of Auditors for FY 2019 8

For For Elect Sharia Supervisory Board Members (Bundled) for FY 2020

9

For For Ratify Auditors and Fix Their Remuneration for FY 2020

10

Against For Elect Directors (Bundled) 11

Voter Rationale: bundled resolution and nominees not disclosed.

Blended Rationale: bundled resolution and nominees not disclosed.

For For Authorize Issuance of Non Convertible Bonds/Sukuk Up to USD 7.5 Billion

12

For For Authorize Issuance of Tier 1 Sukuk Program Up to USD 1.5 Billion

13

For For Authorize Issuance of Tier 2 Sukuk Program Up to USD 1.5 Billion

14

For For Approve Stock Ownership Limitations Re: Foreign Ownership Limits

15.1

For For Authorize Board to Ratify and Execute Approved Resolutions

15.2

ICICI Lombard General Insurance Company Limited Meeting Date: 03/15/2020 Country: India

Meeting Type: Special Ticker: 540716

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

ICICI Lombard General Insurance Company Limited

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Reappointment and Remuneration of Sanjeev Mantri as Whole-time Director, Designated as Executive Director-Retail

For For

Against For Amend ICICI Lombard Employees Stock Option Scheme-2005

2

Voter Rationale: increase in scheme limit deemed excessive

Blended Rationale: increase in scheme limit deemed excessive

Angang Steel Company Limited Meeting Date: 03/16/2020 Country: China

Meeting Type: Special Ticker: 347

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Li Zhongwu as Director For For

For For Elect Wang Wanglin as Director 2

For For Elect Wang Baojun as Supervisor 3.1

For For Elect Li Wenbing as Supervisor 3.2

For For Amend Articles of Association 4

Arabian Centres Co. Meeting Date: 03/16/2020 Country: Saudi Arabia

Meeting Type: Special Ticker: 4321

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Authorize Issuance of Sukuk For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Aston Martin Lagonda Global Holdings Plc Meeting Date: 03/16/2020 Country: United Kingdom

Meeting Type: Special Ticker: AML

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Authorise Issue of Equity in Connection with the Placing

For For

For For Authorise Issue of Equity without Pre-emptive Rights in Connection with the Placing

2

For For Authorise Issue of Equity in Connection with the Rights Issue

3

For For Authorise Issue of Equity without Pre-emptive Rights in Connection with the Rights Issue

4

Beijing Thunisoft Corp. Ltd. Meeting Date: 03/16/2020 Country: China

Meeting Type: Special Ticker: 300271

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Luo Ting as Independent Director For For

For For Elect Wang Yan as Non-Independent Director 2

Carlsberg A/S Meeting Date: 03/16/2020 Country: Denmark

Meeting Type: Annual Ticker: CARL.B

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Accept Financial Statements and Statutory Reports; Approve Discharge of Management and Board

For For

For For Approve Allocation of Income and Dividends of DKK 21 Per Share

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Carlsberg A/S Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Approve Guidelines for Incentive-Based Compensation for Executive Management and Board

4a

Voter Rationale: Lack of disclosure around the performance criteria used in the annual bonus as well as excessive termination payments.

Blended Rationale: Lack of disclosure around the performance criteria used in the annual bonus as well as excessive termination payments.

For For Approve Remuneration of Directors 4b

For For Approve DKK 88 Million Reduction in Share Capital via Share Cancellation

4c

For For Amend Articles Re: Voting on the Company's Remuneration Report

4d

For For Amend Articles Re: Change of Name and CVR Number of the Provider of Share Registration Services

4e

For For Reelect Flemming Besenbacher as Director 5a

For For Reelect Lars Fruergaard Jorgensen as Director 5b

For For Reelect Carl Bache as Director 5c

For For Reelect Magdi Batato as Director 5d

For For Reelect Domitille Doat-Le Bigot as Director 5e

For For Reelect Lilian Fossum Biner as Director 5f

For For Reelect Richard Burrows as Director 5g

For For Reelect Soren-Peter Fuchs Olesen as Director 5h

For For Reelect Majken Schultz as Director 5i

For For Reelect Lars Stemmerik as Director 5j

For For Ratify PricewaterhouseCoopers as Auditors 6

Contemporary Amperex Technology Co., Ltd. Meeting Date: 03/16/2020 Country: China

Meeting Type: Special Ticker: 300750

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Company's Eligibility for Issuance of Private Placement of Shares

For For

For For Approve Share Type and Par Value 2.1

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Contemporary Amperex Technology Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Issue Manner and Issue Time 2.2

For For Approve Target Subscribers and Subscription Method

2.3

For For Approve Pricing Reference Date, Issue Price and Pricing Basis

2.4

For For Approve Issue Size 2.5

For For Approve Lock-up Period 2.6

For For Approve Amount and Use of Proceeds 2.7

For For Approve Distribution Arrangement of Cumulative Earnings

2.8

For For Approve Resolution Validity Period 2.9

For For Approve Listing Location 2.10

For For Approve Plan on Private Placement of Shares 3

For For Approve Demonstration Analysis Report in Connection to Private Placement

4

For For Approve Feasibility Analysis Report on the Use of Proceeds

5

For For Approve Report on the Usage of Previously Raised Funds

6

For For Approve Impact of Dilution of Current Returns and the Relevant Measures to be Taken

7

For For Approve Authorization of Board to Handle All Related Matters

8

For For Approve Hedging Plan 9

DSV Panalpina A/S Meeting Date: 03/16/2020 Country: Denmark

Meeting Type: Annual Ticker: DSV

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Accept Financial Statements and Statutory Reports

For For

For For Approve Remuneration of Directors in the Amount of DKK 500,000 for Ordinary Directors

3

For For Approve Allocation of Income and Dividends of DKK 2.50 Per Share

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

DSV Panalpina A/S Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Reelect Thomas Plenborg as Director 5.1

For For Reelect Jorgen Moller as Director 5.2

For For Reelect Birgit Norgaard as Director 5.3

For For Reelect Annette Sadolin as Director 5.4

For For Reelect Malou Aamund as Director 5.5

For For Reelect Beat Walti as Director 5.6

For For Elect Niels Smedegaard as New Director 5.7

For For Ratify PricewaterhouseCoopers as Auditors 6

For For Approve DKK 5 Million Reduction in Share Capital via Share Cancellation

7.1

For For Authorize Share Repurchase Program 7.2

For For Approve Guidelines for Incentive-Based Compensation for Executive Management and Board

7.3

For For Amend Articles Re: Agenda of Annual General Meeting

7.4

For For Amend Articles Re: Editorial Changes 7.5

Ford Otomotiv Sanayi AS Meeting Date: 03/16/2020 Country: Turkey

Meeting Type: Annual Ticker: FROTO

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Open Meeting and Elect Presiding Council of Meeting

For For

For For Accept Board Report 2

For For Accept Audit Report 3

For For Accept Financial Statements 4

Against For Ratify Director Appointment 5

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

For For Approve Discharge of Board 6

For For Approve Allocation of Income 7

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Ford Otomotiv Sanayi AS Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Amend Articles 6 and 8 Re: Capital Related 8

Against For Elect Directors 9

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

For For Approve Remuneration Policy and Director Remuneration for 2019

10

Against For Approve Director Remuneration 11

Voter Rationale: Lack of disclosure so unable to make an informed decision.

Blended Rationale: Lack of disclosure so unable to make an informed decision.

For For Ratify External Auditors 12

Against For Approve Upper Limit of Donations for 2020 and Receive Information on Donations Made in 2019

13

Voter Rationale: Lack of disclosure so unable to make an informed decision.

Blended Rationale: Lack of disclosure so unable to make an informed decision.

For For Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose

14

Graincorp Limited Meeting Date: 03/16/2020 Country: Australia

Meeting Type: Court Ticker: GNC

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Scheme of Arrangement in Relation to the Proposed Demerger of United Malt Group Limited from GrainCorp Limited

For For

Graincorp Limited Meeting Date: 03/16/2020 Country: Australia

Meeting Type: Special Ticker: GNC

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Graincorp Limited

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve the Capital Reduction For For

Gujarat Pipavav Port Limited Meeting Date: 03/16/2020 Country: India

Meeting Type: Special Ticker: 533248

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Pravin Laheri to Continue Office as Non-Executive Independent Director

For For

For For Approve Appointment and One-time Special Remuneration of Padmini Kant Mishra as Interim Managing Director

2

For For Elect Jakob Friis Sorensen as Director 3

For For Approve Appointment and Remuneration of Jakob Friis Sorensen as Managing Director

4

For For Approve Related Party Transaction 5

For For Adopt New Articles of Association 6

Multi Units France - Lyxor Euro Stoxx 50 (DR) UCITS ETF Meeting Date: 03/16/2020 Country: France

Meeting Type: Special Ticker: MSE

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Merger by Absorption of LYXOR EURO STOXX 50 DAILY(-1x) Inverse UCITS ETF by FCP Comstage EURO STOXX50 DAILY SHORT GR UCITS ETF

For For

For For Approve Merger by Absorption of LYXOR GERMAN MID-CAP MDAX UCITS ETF by FCP Comstage MDAX TR UCITS ETF

2

For For Authorize Filing of Required Documents/Other Formalities

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Shenzhen Airport Co., Ltd. Meeting Date: 03/16/2020 Country: China

Meeting Type: Special Ticker: 000089

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Lin Xiaolong as Non-Independent Director For For

For For Elect Xie Yousong as Non-Independent Director 1.2

For For Elect Zhang Yan as Non-Independent Director 1.3

For For Elect Ye Wenhua as Supervisor 2.1

For For Elect Shi Xiaomei as Supervisor 2.2

Zenith Bank Plc Meeting Date: 03/16/2020 Country: Nigeria

Meeting Type: Annual Ticker: ZENITHBANK

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Approve Dividend of NGN 2.50 Per Share 2

For For Ratify Appointment of Al-Mujtaba Abubakar as Independent Director and Henry Oro as Executive Director

3

For For Reelect Oyewusi Ibidapo-Obe as Director 4.1

Against For Reelect Umar Shuaib as Director 4.2

Voter Rationale: Lack of board independence and diversity.

Blended Rationale: Lack of board independence and diversity.

Against For Reelect Temitope Fasoranti as Director 4.3

Voter Rationale: Lack of board independence and diversity.

Blended Rationale: Lack of board independence and diversity.

For For Authorize Board to Fix Remuneration of Auditors 5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Zenith Bank Plc Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Elect Members of Audit Committee 6

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

For For Approve Remuneration of Directors 7

For For Elect Jeffrey Efeyini as Non-Executive Director and Oyewusi Ibidapo-Obe as Independent Non-Executive Director

8

A-Living Services Co., Ltd. Meeting Date: 03/17/2020 Country: China

Meeting Type: Special Ticker: 3319

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Amend Articles of Association For For

A-Living Services Co., Ltd. Meeting Date: 03/17/2020 Country: China

Meeting Type: Special Ticker: 3319

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve CMIG PM Agreement and Related Transactions

For For

Guangzhou Wondfo Biotech Co., Ltd. Meeting Date: 03/17/2020 Country: China

Meeting Type: Special Ticker: 300482

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Guangzhou Wondfo Biotech Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Company's Eligibility for Issuance of Convertible Bonds

For For

For For Approve Type 2.1

For For Approve Issue Size 2.2

For For Approve Par Value and Issue Price 2.3

For For Approve Existence Period 2.4

For For Approve Bond Coupon Rate 2.5

For For Approve Period and Manner of Repayment of Capital and Interest

2.6

For For Approve Conversion Period 2.7

For For Approve Adjustment and Calculation Method of Conversion Price

2.8

For For Approve Method on Handling Fractional Shares Upon Conversion

2.9

For For Approve Terms for Downward Adjustment of Conversion Price

2.10

For For Approve Terms of Redemption 2.11

For For Approve Terms of Sell-Back 2.12

For For Approve Dividend Distribution Post Conversion 2.13

For For Approve Issue Manner and Target Subscribers 2.14

For For Approve Placing Arrangement for Shareholders 2.15

For For Approve Matters Relating to Meetings of Bondholders

2.16

For For Approve Use of Proceeds 2.17

For For Approve Special Deposit Account for Raised Funds

2.18

For For Approve Guarantee 2.19

For For Approve Resolution Validity Period 2.20

For For Approve Issuance of Convertible Bonds 3

For For Approve Demonstration Analysis Report in Connection to Issuance of Convertible Bonds

4

For For Approve Report on the Usage of Previously Raised Funds

5

For For Approve Feasibility Analysis Report on the Use of Proceeds

6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Guangzhou Wondfo Biotech Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Impact of Dilution of Current Returns of Convertible Bonds and the Relevant Measures to be Taken

7

For For Approve Rules and Procedures Regarding General Meetings of Convertible Bondholders

8

For For Approve Authorization of the Board to Handle All Related Matters

9

For For Approve Shareholder Return Plan 10

Hithink RoyalFlush Information Network Co., Ltd. Meeting Date: 03/17/2020 Country: China

Meeting Type: Annual Ticker: 300033

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Report of the Board of Directors For For

For For Approve Report of the Board of Supervisors 2

For For Approve Annual Report and Summary 3

For For Approve Financial Statements 4

For For Approve Profit Distribution 5

For For Approve to Appoint Auditor 6

Against For Approve Using Idle Funds for Securities Investment

7

Voter Rationale: proposed investment could expose the company to unnecessary risks.

Blended Rationale: proposed investment could expose the company to unnecessary risks.

For For Elect Yi Zheng as Non-Independent Director 8.1

For For Elect Ye Qiongjiu as Non-Independent Director 8.2

For For Elect Wu Qiang as Non-Independent Director 8.3

For For Elect Zhu Zhifeng as Non-Independent Director 8.4

For For Elect Wang Jin as Non-Independent Director 8.5

For For Elect Yu Haomiao as Non-Independent Director 8.6

For For Elect Han Shijun as Independent Director 9.1

For For Elect Zhao Xuqiang as Independent Director 9.2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Hithink RoyalFlush Information Network Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Ni Yifan as Independent Director 9.3

For For Elect Guo Xin as Supervisor 10.1

For For Elect Xia Wei as Supervisor 10.2

KT Skylife Co., Ltd. Meeting Date: 03/17/2020 Country: South Korea

Meeting Type: Annual Ticker: 053210

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Cheol-su as Inside Director 2.1

For For Elect Hong Gi-seop as Inside Director 2.2

For For Elect Park In-gu as Outside Director 2.3

For For Elect Kwon Haeng-min as Outside Director 2.4

For For Elect Kim Tae-yong as Outside Director 2.5

For For Elect Guk Eun-ju as Outside Director 2.6

For For Elect Song Jae-ho as Non-Independent Non-Executive Director

2.7

For For Elect Ahn Chi-yong as Non-Independent Non-Executive Director

2.8

For For Elect Park In-gu as a Member of Audit Committee

3.1

For For Elect Kwon Haeng-min as a Member of Audit Committee

3.2

For For Elect Guk Eun-ju as a Member of Audit Committee

3.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

MAXIMUS, Inc. Meeting Date: 03/17/2020 Country: USA

Meeting Type: Annual Ticker: MMS

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

MAXIMUS, Inc.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Elect Director Gayathri Rajan For For

For For Elect Director Michael J. Warren 1b

For For Declassify the Board of Directors 2

For For Ratify Ernst & Young LLP as Auditors 3

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

4

Voter Rationale: The company does not condition the vesting of long-term awards on achievement of performance goals

Blended Rationale: The company does not condition the vesting of long-term awards on achievement of performance goals

For Against Report on Lobbying Payments and Policy 5

Voter Rationale: The company is being asked to improve its disclosure of lobbying practices, which we support given its government contracting exposure and current lack of transparency.

Blended Rationale: The company is being asked to improve its disclosure of lobbying practices, which we support given its government contracting exposure and current lack of transparency.

The Toro Company Meeting Date: 03/17/2020 Country: USA

Meeting Type: Annual Ticker: TTC

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Jeffrey M. Ettinger For Withhold

Voter Rationale: chair of the nominating committee and concerns about extensive tenure on the board compromising independent oversight

Blended Rationale: chair of the nominating committee and concerns about extensive tenure on the board compromising independent oversight

For For Elect Director Katherine J. Harless 1.2

For For Elect Director D. Christian Koch 1.3

For For Ratify KPMG LLP as Auditors 2

For For Advisory Vote to Ratify Named Executive Officers' Compensation

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Aldar Properties PJSC Meeting Date: 03/18/2020 Country: United Arab Emirates

Meeting Type: Annual Ticker: ALDAR

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations and Financial Position for FY 2019

For For

For For Approve Auditors' Report on Company Financial Statements for FY 2019

2

For For Accept Financial Statements and Statutory Reports for FY 2019

3

For For Approve Dividends of AED 0.145 per Share for FY 2019

4

For For Approve Remuneration of Directors for FY 2019 5

For For Approve Discharge of Directors for FY 2019 6

For For Approve Discharge of Auditors for FY 2019 7

For For Ratify Auditors and Fix Their Remuneration for FY 2020

8

For For Approve Social Contributions Up to 2 Percent of Net Profits of FY 2018 and FY 2019

9

Axfood AB Meeting Date: 03/18/2020 Country: Sweden

Meeting Type: Annual Ticker: AXFO

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Chairman of Meeting For For

For For Prepare and Approve List of Shareholders 2

For For Approve Agenda of Meeting 3

For For Designate Inspector(s) of Minutes of Meeting 4

For For Acknowledge Proper Convening of Meeting 5

For For Accept Financial Statements and Statutory Reports

8

For For Approve Discharge of Board and President 9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Axfood AB Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Allocation of Income and Dividends of SEK 7.25 Per Share

10

For For Determine Number of Members (8) and Deputy Members (0) of Board; Determine Number of Auditors (1) and Deputy Auditors (0)

11

For For Approve Remuneration of Directors in the Amount of EUR 725,000 for Chairman, EUR 555,000 for Vice Chairman, and EUR 460,000 for Other Directors; Approve Remuneration of Auditors

12

For For Reelect Mia Brunell Livfors (Chair), Stina Andersson, Fabian Bengtsson, Caroline Berg, Jesper Lien, Lars Olofsson and Christer Aberg as Directors; Elect Christian Luiga as New Director

13

For For Ratify Deloitte as Auditors 14

For For Authorize Representatives of Four of Company's Largest Shareholders to Serve on Nominating Committee

15

For For Approve Remuneration Policy And Other Terms of Employment For Executive Management

16

For For Approve Restricted Stock Plan LTIP 2020 17.a

For For Approve Equity Plan Financing for LTIP 2020 17.b

For For Approve Employee Share Purchases in Subsidiaries

18

For For Amend Articles of Association in Accordance with New Legislation and Make Editorial Changes

19

Berkeley Group Holdings Plc Meeting Date: 03/18/2020 Country: United Kingdom

Meeting Type: Special Ticker: BKG

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Adopt New Articles of Association For For

For For Approve B Share Scheme and Share Consolidation

2

For For Approve C Share Scheme and Share Consolidation

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Berkeley Group Holdings Plc Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Terms of the Option Agreement 4

For For Authorise Market Purchase of Ordinary Shares 5

Against For Amend Remuneration Policy 6

Voter Rationale: Potential for excessive payments.

Blended Rationale: Potential for excessive payments.

Hindustan Unilever Limited Meeting Date: 03/18/2020 Country: India

Meeting Type: Special Ticker: 500696

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Wilhelmus Adrianus Theodorus Uijen as Director and Approve Appointment and Remuneration of Wilhelmus Adrianus Theodorus Uijen as Whole-time Director

For For

Hyundai Mobis Co., Ltd. Meeting Date: 03/18/2020 Country: South Korea

Meeting Type: Annual Ticker: 012330

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements For For

For For Approve Appropriation of Income 2

For For Elect Karl-Thomas Neumann as Outside Director 3.1.1

For For Elect Jang Young-woo as Outside Director 3.1.2

For For Elect Chung Eui-sun as Inside Director 3.2

For For Elect Karl-Thomas Neumann as a Member of Audit Committee

4.1

For For Elect Jang Young-woo as a Member of Audit Committee

4.2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Hyundai Mobis Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

IKD Co., Ltd. Meeting Date: 03/18/2020 Country: China

Meeting Type: Special Ticker: 600933

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Forward Foreign Exchange Transactions and Foreign Exchange Options Business

For For

Israel Discount Bank Ltd. Meeting Date: 03/18/2020 Country: Israel

Meeting Type: Special Ticker: DSCT

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Compensation Policy for the Directors and Officers of the Company

For For

For For Approve Employment Terms of Uri Levin, CEO 2

For For Approve Amended Employment Terms of Shaul Kobrinsky, Chairman

3

Against None Vote FOR if you are a controlling shareholder or have a personal interest in one or several resolutions, as indicated in the proxy card; otherwise, vote AGAINST. You may not abstain. If you vote FOR, please provide an explanation to your account manager

A

Against None If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise, vote against.

B1

Against None If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise, vote against.

B2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Israel Discount Bank Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For None If you are an Institutional Investor as defined in Regulation 1 of the Supervision Financial Services Regulations 2009 or a Manager of a Joint Investment Trust Fund as defined in the Joint Investment Trust Law, 1994, vote FOR. Otherwise, vote against.

B3

Macquarie Bank Limited Meeting Date: 03/18/2020 Country: Australia

Meeting Type: Bondholder Ticker: N/A

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Capital Return For For

Marel hf Meeting Date: 03/18/2020 Country: Iceland

Meeting Type: Annual Ticker: MAREL

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

4 Approve Financial Statements and Statutory Reports

For For

For For Approve Allocation of Income and Dividends of EUR Cents 5.79 Per Share

5

For For Approve Remuneration Report 6

Against For Approve Remuneration Policy And Other Terms of Employment For Executive Management

7

Voter Rationale: No cap on termination benefits.

Blended Rationale: No cap on termination benefits.

For For Approve Remuneration of Directors for 2020 8

For For Approve Remuneration of Auditors for 2019 9

For For Amend Articles Re: Editorial Changes to Reflect Share Capital Currency Before Registration/Conversion

10.1

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Marel hf Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Amend Articles Re: Editorial Changes to Reflect Share Capital Currency

10.2

For For Amend Articles Re: Editorial Changes to Clarify Shareholders' Obligation to Obide the Articles of Association

10.3

For For Amend Articles Re: Editorial Changes Stating the Shareholders' Right to Bring an Advisor to Shareholders' Meeting

10.4

For For Amend Articles Re: Editorial Changes to State that Shareholder Meeting is Lawful

10.5

For For Amend Articles Re: Holding Shareholders' Meeting in Different Location Than at Company's Domicile

10.6

For For Amend Articles Re: Editorial Changes Regarding Publication Methods of Convocations

10.7

For For Amend Articles Re: Editorial Changes Regarding Convocation Notice of Four Weeks

10.8

For For Amend Articles Re: Editorial Changes Regarding Article (88) Public Limited Companies no. 2/1995 (Convocation)

10.9

For For Amend Articles Re: Editorial Changes Regarding Article (88) Public Limited Companies no. 2/1995 (Agenda and Final Proposals)

10.10

For For Amend Articles Re: Change Notice of Board Candidates From Five Days to No Later Than 14 Days

10.11

For For Amend Articles Re: Change Disclosure Time for Board Candidates from Two Days to Up to Ten Days

10.12

For For Fix Number of Directors at Seven 11.1

For For Elect Ann Elizabeth Savage as Director 11.2a

For For Elect Arnar Thor Masson as Director 11.2b

For For Elect Asthildur Margret Otharsdottir as Director 11.2c

For For Elect Astvaldur Johannsson as Director 11.2d

For For Elect Lillie Li Valeur as Director 11.2e

For For Elect Olafur Steinn Gudmundsson as Director 11.2f

For For Elect Ton van der Laan as Director 11.2g

For For Ratify KPMG as Auditors 12

For For Authorize Repurchase of Up to Ten Percent of Issued Share Capital

13

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Marel hf Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Other Business (Voting) 14

Voter Rationale: Other business not disclosed so unable to make an informed decision.

Blended Rationale: Other business not disclosed so unable to make an informed decision.

Safestore Holdings Plc Meeting Date: 03/18/2020 Country: United Kingdom

Meeting Type: Annual Ticker: SAFE

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

Against For Approve Remuneration Report 2

Voter Rationale: Poor disclosure on LTIP targets.

Blended Rationale: Poor disclosure on LTIP targets.

For For Reappoint Deloitte LLP as Auditors 3

For For Authorise Board to Fix Remuneration of Auditors 4

For For Approve Final Dividend 5

For For Elect David Hearn as Director 6

For For Re-elect Frederic Vecchioli as Director 7

For For Re-elect Andy Jones as Director 8

For For Re-elect Ian Krieger as Director 9

For For Re-elect Joanne Kenrick as Director 10

Against For Re-elect Claire Balmforth as Director 11

Voter Rationale: Continued remuneration failures.

Blended Rationale: Continued remuneration failures.

For For Re-elect Bill Oliver as Director 12

For For Approve Remuneration Policy 13

For For Approve Long Term Incentive Plan 14

For For Authorise EU Political Donations and Expenditure

15

For For Authorise Issue of Equity 16

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Safestore Holdings Plc Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Authorise Issue of Equity without Pre-emptive Rights

17

For For Authorise Market Purchase of Ordinary Shares 18

For For Authorise the Company to Call General Meeting with Two Weeks' Notice

19

Samsung Electronics Co., Ltd. Meeting Date: 03/18/2020 Country: South Korea

Meeting Type: Annual Ticker: 005930

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Han Jong-hee as Inside Director 2.1

For For Elect Choi Yoon-ho as Inside Director 2.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

Samsung Electronics Co., Ltd. Meeting Date: 03/18/2020 Country: South Korea

Meeting Type: Annual Ticker: 005930

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Han Jong-hee as Inside Director 2.1

For For Elect Choi Yoon-ho as Inside Director 2.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Samsung SDI Co., Ltd. Meeting Date: 03/18/2020 Country: South Korea

Meeting Type: Annual Ticker: 006400

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Jun Young-hyun as Inside Director 2.1

For For Elect Kwon Oh-kyung as Outside Director 2.2

For For Elect Kim Duk-hyun as Outside Director 2.3

For For Elect Park Tae-ju as Outside Director 2.4

For For Elect Choi Won-wook as Outside Director 2.5

For For Elect Kwon Oh-kyung as a Member of Audit Committee

3.1

For For Elect Kim Duk-hyun as a Member of Audit Committee

3.2

For For Elect Park Tae-ju as a Member of Audit Committee

3.3

For For Elect Choi Won-wook as a Member of Audit Committee

3.4

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Samsung SDI Co., Ltd. Meeting Date: 03/18/2020 Country: South Korea

Meeting Type: Annual Ticker: 006400

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Jun Young-hyun as Inside Director 2.1

For For Elect Kwon Oh-kyung as Outside Director 2.2

For For Elect Kim Duk-hyun as Outside Director 2.3

For For Elect Park Tae-ju as Outside Director 2.4

For For Elect Choi Won-wook as Outside Director 2.5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Samsung SDI Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Kwon Oh-kyung as a Member of Audit Committee

3.1

For For Elect Kim Duk-hyun as a Member of Audit Committee

3.2

For For Elect Park Tae-ju as a Member of Audit Committee

3.3

For For Elect Choi Won-wook as a Member of Audit Committee

3.4

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Samsung SDS Co., Ltd. Meeting Date: 03/18/2020 Country: South Korea

Meeting Type: Annual Ticker: 018260

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Ahn Jeong-tae as Inside Director 2.1

For For Elect Yoo Jae-man as Outside Director 2.2

For For Elect Yoo Hyeok as Outside Director 2.3

For For Elect Shin Hyeon-han as Outside Director 2.4

For For Elect Cho Seung-ah as Outside Director 2.5

For For Elect Yoo Jae-man as a Member of Audit Committee

3.1

For For Elect Shin Hyeon-han as a Member of Audit Committee

3.2

For For Elect Cho Seung-ah as a Member of Audit Committee

3.3

For For Amend Articles of Incorporation 4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

SEBANG GLOBAL BATTERY Co., Ltd. Meeting Date: 03/18/2020 Country: South Korea

Meeting Type: Annual Ticker: 004490

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

SEBANG GLOBAL BATTERY Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Five Inside Directors and Three Outside Directors (Bundled)

3

For For Elect Three Members of Audit Committee (Bundled)

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Approve Terms of Retirement Pay 6

Starbucks Corporation Meeting Date: 03/18/2020 Country: USA

Meeting Type: Annual Ticker: SBUX

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Elect Director Richard E. Allison, Jr. For For

For For Elect Director Rosalind G. Brewer 1b

For For Elect Director Andrew Campion 1c

For For Elect Director Mary N. Dillon 1d

For For Elect Director Isabel Ge Mahe 1e

For For Elect Director Mellody Hobson 1f

For For Elect Director Kevin R. Johnson 1g

For For Elect Director Jorgen Vig Knudstorp 1h

For For Elect Director Satya Nadella 1i

For For Elect Director Joshua Cooper Ramo 1j

For For Elect Director Clara Shih 1k

For For Elect Director Javier G. Teruel 1l

For For Elect Director Myron E. Ullman, III 1m

For For Advisory Vote to Ratify Named Executive Officers' Compensation

2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Starbucks Corporation Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Ratify Deloitte & Touche LLP as Auditors 3

Against Against Report on Risks of Omitting Viewpoint and Ideology from EEO Policy

4

The Cooper Companies, Inc. Meeting Date: 03/18/2020 Country: USA

Meeting Type: Annual Ticker: COO

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director A. Thomas Bender For For

For For Elect Director Colleen E. Jay 1.2

Against For Elect Director William A. Kozy 1.3

Voter Rationale: ongoing concerns regarding extensive tenure and Chair of the Nominating committee.

Blended Rationale: ongoing concerns regarding extensive tenure and Chair of the Nominating committee.

For For Elect Director Jody S. Lindell 1.4

For For Elect Director Gary S. Petersmeyer 1.5

Against For Elect Director Allan E. Rubenstein 1.6

Voter Rationale: extensive tenure compromises independence as Lead Independent Director.

Blended Rationale: extensive tenure compromises independence as Lead Independent Director.

For For Elect Director Robert S. Weiss 1.7

For For Elect Director Albert G. White, III 1.8

For For Ratify KPMG LLP as Auditors 2

For For Approve Non-Employee Director Omnibus Stock Plan

3

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

4

Voter Rationale: The LTIP is entirely time-based.

Blended Rationale: The LTIP is entirely time-based.

Tofas Turk Otomobil Fabrikasi AS Meeting Date: 03/18/2020 Country: Turkey

Meeting Type: Annual Ticker: TOASO

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Tofas Turk Otomobil Fabrikasi AS

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Open Meeting and Elect Presiding Council of Meeting

For For

For For Accept Board Report 2

For For Accept Audit Report 3

For For Accept Financial Statements 4

For For Approve Discharge of Board 5

For For Approve Allocation of Income 6

Against For Elect Directors 7

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

For For Approve Remuneration Policy and Director Remuneration for 2019

8

Against For Approve Director Remuneration 9

Voter Rationale: Lack of disclosure so unable to make an informed decision.

Blended Rationale: Lack of disclosure so unable to make an informed decision.

For For Ratify External Auditors 10

Against For Approve Upper Limit of Donations for 2020 and Receive Information on Donations Made in 2019

11

Voter Rationale: Lack of disclosure so unable to make an informed decision.

Blended Rationale: Lack of disclosure so unable to make an informed decision.

For For Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose

13

UK Commercial Property REIT Ltd. Meeting Date: 03/18/2020 Country: Guernsey

Meeting Type: Special Ticker: UKCM

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve the Continuation of the Company For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Ahli United Bank BSC Meeting Date: 03/19/2020 Country: Bahrain

Meeting Type: Annual/Special Ticker: AUB

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Minutes of Previous Meeting Held on 28 March 2019

For For

For For Approve Board Report on Company Operations for FY 2019

2

For For Approve Auditors' Report on Company Financial Statements for FY 2019

3

For For Accept Consolidated Financial Statements and Statutory Reports for FY 2019

4

For For Approve Transfer of USD 73,050,104 to Statutory Reserve

5.1

For For Approve Dividends of USD 0.05 per Share 5.2

For For Approve Charitable Donations of USD 1,000,000 5.3

For For Approve Allocation of Income to Retained Earnings of USD 217,728,720

5.4

For For Approve Stock Dividend Program Re: 1:10 6

For For Approve Remuneration of Directors of USD 2,141,101

7

For For Approve Repurchase of Shares Up to 10 Percent of the Capital

8

For For Approve Corporate Governance Report 9

For For Approve Discharge of Directors for FY 2019 10

For For Approve Decrease in Size of Board from 11 to 10 Members

11

For For Ratify Auditors and Fix Their Remuneration for FY 2020

12

Against For Other Business 13

Voter Rationale: Other business not disclosed and may not be in shareholders' interests.

Blended Rationale: Other business not disclosed and may not be in shareholders' interests.

For For Approve Minutes of Previous Meeting held on 28 March 2019

1

For For Authorize Renewal of Issuance of Bonds, Loans and Other Financial Instruments Up to USD 4,000,000,000

2

For For Amend Articles to Reflect Changes in Capital 3

For For Authorize Board to Ratify and Execute Approved Resolutions

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Ahli United Bank BSC

Bankinter SA Meeting Date: 03/19/2020 Country: Spain

Meeting Type: Annual Ticker: BKT

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Consolidated and Standalone Financial Statements

For For

For For Approve Non-Financial Information Statement 2

For For Approve Discharge of Board 3

For For Approve Allocation of Income and Dividends 4

For For Renew Appointment of PricewaterhouseCoopers as Auditor

5

For For Elect Fernando Jose Frances Pons as Director 6.1

For For Fix Number of Directors at 11 6.2

For For Approve Spin-Off of the Insurance Business Linea Directa Aseguradora

7

For For Approve Restricted Capitalization Reserve 8

For For Authorize Share Repurchase and Capital Reduction via Amortization of Repurchased Shares

9

For For Amend Remuneration Policy 10.1

For For Approve Delivery of Shares under FY 2019 Variable Pay Scheme

10.2

For For Fix Maximum Variable Compensation Ratio 10.3

For For Authorize Board to Ratify and Execute Approved Resolutions

11

For For Advisory Vote on Remuneration Report 12

Cheil Worldwide, Inc. Meeting Date: 03/19/2020 Country: South Korea

Meeting Type: Annual Ticker: 030000

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Cheil Worldwide, Inc.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation (Business Objectives)

2.1

For For Amend Articles of Incorporation (Electronic Registration of Certificates)

2.2

For For Elect Jeong Hong-gu as Inside Director 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

CHOSUN REFRACTORIES Co., Ltd. Meeting Date: 03/19/2020 Country: South Korea

Meeting Type: Annual Ticker: 000480

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Lee Geum-ock as Inside Director 3.1

For For Elect Kim Hong-jung as Inside Director 3.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Hudaco Industries Ltd. Meeting Date: 03/19/2020 Country: South Africa

Meeting Type: Annual Ticker: HDC

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Re-elect Clifford Amoils as Director For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Hudaco Industries Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Re-elect Nyami Mandindi as Director 1.2

For For Re-elect Mark Thompson as Director 1.3

For For Reappoint BDO South Africa Incorporated as Auditors of the Company and Reappoint Vanessa de Villiers as the Individual Registered Auditor

2

For For Re-elect Daisy Naidoo as Member of the Audit and Risk Management Committee

3.1

For For Re-elect Nyami Mandindi as Member of the Audit and Risk Management Committee

3.2

For For Re-elect Mark Thompson as Member of the Audit and Risk Management Committee

3.3

For For Approve Non-executive Directors' Remuneration 1

For For Approve Remuneration Policy 1

Against For Approve Remuneration Implementation Report 2

Voter Rationale: One off awards paid during year.

Blended Rationale: One off awards paid during year.

For For Approve Financial Assistance to Subsidiaries 2

For For Authorise Repurchase of Issued Share Capital 3

For For Authorise Board to Issue Authorised but Unissued Ordinary Shares

4

For For Authorise Ratification of Approved Resolutions 5

Huons Co., Ltd. Meeting Date: 03/19/2020 Country: South Korea

Meeting Type: Annual Ticker: 243070

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Eom Gi-ahn as Inside Director 3.1

For For Elect Lim Deok-ho as Outside Director 3.2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Huons Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

HYUNDAI ENGINEERING & CONSTRUCTION CO., LTD. Meeting Date: 03/19/2020 Country: South Korea

Meeting Type: Annual Ticker: 000720

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Jae-jun as Outside Director 2.1

For For Elect Hong Dae-sik as Outside Director 2.2

For For Elect Kim Jae-jun as a Member of Audit Committee

3.1

For For Elect Hong Dae-sik as a Member of Audit Committee

3.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Hyundai GLOVIS Co., Ltd. Meeting Date: 03/19/2020 Country: South Korea

Meeting Type: Annual Ticker: 086280

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

Against For Elect Jeon Geum-bae as Inside Director 3.1

Voter Rationale: concerns about independence

Blended Rationale: concerns about independence

For For Elect Kim Jun-gyu as Outside Director 3.2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Hyundai GLOVIS Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Elect Lim Chang-gyu as Outside Director 3.3

Voter Rationale: concerns about independence

Blended Rationale: concerns about independence

For For Elect Kim Jun-gyu as a Member of Audit Committee

4.1

Against For Elect Lim Chang-gyu as a Member of Audit Committee

4.2

Voter Rationale: engaged in material transactions with the company

Blended Rationale: engaged in material transactions with the company

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Hyundai Motor Co., Ltd. Meeting Date: 03/19/2020 Country: South Korea

Meeting Type: Annual Ticker: 005380

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Choi Eun-su as Outside Director 3.1

Against For Elect Kim Sang-hyeon as Inside Director 3.2

Voter Rationale: lack of independence.

Blended Rationale: lack of independence.

For For Elect Choi Eun-su as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Japan Tobacco Inc. Meeting Date: 03/19/2020 Country: Japan

Meeting Type: Annual Ticker: 2914

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Japan Tobacco Inc.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 77

For For

For For Amend Articles to Amend Provisions on Director Titles

2

For For Elect Director Tango, Yasutake 3.1

For For Elect Director Iwai, Mutsuo 3.2

For For Elect Director Terabatake, Masamichi 3.3

For For Elect Director Minami, Naohiro 3.4

For For Elect Director Hirowatari, Kiyohide 3.5

For For Elect Director Yamashita, Kazuhito 3.6

For For Elect Director Koda, Main 3.7

For For Elect Director Watanabe, Koichiro 3.8

For For Elect Director Nagashima, Yukiko 3.9

For For Approve Restricted Stock Plan and Performance Share Plan

4

Kubota Corp. Meeting Date: 03/19/2020 Country: Japan

Meeting Type: Annual Ticker: 6326

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Kimata, Masatoshi For For

Against For Elect Director Kitao, Yuichi 1.2

Voter Rationale: Lack of board gender diversity.

Blended Rationale: Lack of board gender diversity.

For For Elect Director Yoshikawa, Masato 1.3

For For Elect Director Sasaki, Shinji 1.4

For For Elect Director Kurosawa, Toshihiko 1.5

For For Elect Director Watanabe, Dai 1.6

For For Elect Director Matsuda, Yuzuru 1.7

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Kubota Corp. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Ina, Koichi 1.8

For For Elect Director Shintaku, Yutaro 1.9

For For Appoint Statutory Auditor Yamada, Yuichi 2

For For Approve Annual Bonus 3

For For Approve Restricted Stock Plan 4

Mobile Telecommunications Co. KSC Meeting Date: 03/19/2020 Country: Kuwait

Meeting Type: Annual/Special Ticker: ZAIN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations for FY 2019

For For

For For Approve Corporate Governance Report and Audit Committee Report for FY 2019

2

For For Approve Auditors' Report on Company Financial Statements for FY 2019

3

Against For Accept Consolidated Financial Statements and Statutory Reports for FY 2019

4

Voter Rationale: Concerns related to the qualified auditor's opinion.

Blended Rationale: Concerns related to the qualified auditor's opinion.

For For Approve Discontinuing the Statutory Reserve Transfer for FY 2019

5

For For Approve Special Report on Penalties for FY 2019 6

For For Approve Annual Minimum of KWD 0.033 Dividend Distribution Policy for Three Years Starting FY 2019

7

For For Approve Dividends of KWD 0.033 per Share 8

For For Approve Remuneration of Directors of KWD 510,000 for FY 2019

9

For For Authorize Share Repurchase Program of Up to 10 Percent of Issued Share Capital

10

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Mobile Telecommunications Co. KSC Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Approve Related Party Transactions for FY 2019 11

Voter Rationale: The company has not disclosed full terms of the transactions conducted during the fiscal year in review, therefore it is impossible to assess the impact of the proposed deals on the company and its shareholders.

Blended Rationale: The company has not disclosed full terms of the transactions conducted during the fiscal year in review, therefore it is impossible to assess the impact of the proposed deals on the company and its shareholders.

Against For Approve Discharge of Directors for FY 2019 12

Voter Rationale: Due to the concerns highlighted by the auditor.

Blended Rationale: Due to the concerns highlighted by the auditor.

For For Ratify Auditors and Fix Their Remuneration for FY 2020

13

Against For Elect Directors (Bundled) 14

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

For For Amend Articles of Memorandum of Association 1

For For Amend Articles of Bylaws 2

MODEC, Inc. Meeting Date: 03/19/2020 Country: Japan

Meeting Type: Annual Ticker: 6269

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 22.5

For For

For For Elect Director Kozai, Yuji 2.1

For For Elect Director Kanamori, Takeshi 2.2

For For Elect Director Sawada, Minoru 2.3

For For Elect Director Taguchi, Shoichi 2.4

For For Elect Director Nakai, Kazumasa 2.5

For For Elect Director Natori, Katsuya 2.6

For For Elect Director Aikyo, Shigenobu 2.7

For For Elect Director Noda, Hiroko 2.8

For For Elect Director Shiraishi, Kazuko 2.9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

MODEC, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Nishigai, Kazuhisa 2.10

For For Approve Annual Bonus 3

Ningbo Peacebird Fashion Co., Ltd. Meeting Date: 03/19/2020 Country: China

Meeting Type: Special Ticker: 603877

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Comprehensive Credit Line Bank Application

For For

For For Approve Provision of Guarantee 2

S-1 Corp. (Korea) Meeting Date: 03/19/2020 Country: South Korea

Meeting Type: Annual Ticker: 012750

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Four Inside Directors and One NI-NED (Bundled)

2

For For Appoint Ishida Shozaburo as Internal Auditor 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

Samho Development Co., Ltd. Meeting Date: 03/19/2020 Country: South Korea

Meeting Type: Annual Ticker: 010960

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Samho Development Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Lee Tae-il as Outside Director For For

For For Approve Total Remuneration of Inside Directors and Outside Directors

2

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

3

Samsung Card Co., Ltd. Meeting Date: 03/19/2020 Country: South Korea

Meeting Type: Annual Ticker: 029780

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Dae-hwan as Inside Director 2.1

For For Elect Ahn Gi-hong as Inside Director 2.2

Against For Elect Kwon Oh-Kyu as Outside Director 2.3

Voter Rationale: concernsabout material failure of governance and oversight

Blended Rationale: concernsabout material failure of governance and oversight

Against For Elect Choi Gyu-yeon as Outside Director 2.4

Voter Rationale: concern about material failure of governance and oversight

Blended Rationale: concern about material failure of governance and oversight

For For Elect Lim Hye-ran as Outside Director 2.5

For For Elect Kang Tae-su as Outside Director to Serve as Audit Committee Member

3

Against For Elect Kwon Oh-Kyu as a Member of Audit Committee

4.1

Voter Rationale: concern about material failure of governance and oversight

Blended Rationale: concern about material failure of governance and oversight

Against For Elect Choi Gyu-yeon as a Member of Audit Committee

4.2

Voter Rationale: concern about material failure of governance and oversight

Blended Rationale: concern about material failure of governance and oversight

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Samsung Card Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Samsung Engineering Co., Ltd. Meeting Date: 03/19/2020 Country: South Korea

Meeting Type: Annual Ticker: 028050

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Choi Jae-hoon as Inside Director 2.1

For For Elect Seo Man-ho as Outside Director 2.2

For For Elect Seo Man-ho as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Schindler Holding AG Meeting Date: 03/19/2020 Country: Switzerland

Meeting Type: Annual Ticker: SCHP

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Approve Allocation of Income and Dividends of CHF 4.00 per Share and Participation Certificate

2

For For Approve Discharge of Board and Senior Management

3

Against For Approve Variable Remuneration of Directors in the Amount of CHF 3.9 Million

4.1

Voter Rationale: Lack of disclosure around the potential payout levels.

Blended Rationale: Lack of disclosure around the potential payout levels.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schindler Holding AG Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Approve Variable Remuneration of Executive Committee in the Amount of CHF 11.3 Million

4.2

Voter Rationale: The performance criteria used in the annual bonus are not disclosed so unable to make an informed decision.

Blended Rationale: The performance criteria used in the annual bonus are not disclosed so unable to make an informed decision.

For For Approve Fixed Remuneration of Directors in the Amount of CHF 7 Million

4.3

For For Approve Fixed Remuneration of Executive Committee in the Amount of CHF 11.6 Million

4.4

For For Reelect Silvio Napoli as Director and Board Chairman

5.1

Against For Elect Orit Gadiesh as Director 5.2

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

Against For Reelect Alfred Schindler as Director 5.3.1

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

Against For Reelect Pius Baschera as Director 5.3.2

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

For For Reelect Erich Ammann as Director 5.3.3

Against For Reelect Luc Bonnard as Director 5.3.4

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

For For Reelect Patrice Bula as Director 5.3.5

For For Reelect Monika Buetler as Director 5.3.6

Against For Reelect Rudolf Fischer as Director 5.3.7

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

For For Reelect Tobias Staehelin as Director 5.3.8

Against For Reelect Carole Vischer as Director 5.3.9

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schindler Holding AG Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Reappoint Pius Baschera as Member of the Compensation Committee

5.4.1

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

For For Reappoint Patrice Bula as Member of the Compensation Committee

5.4.2

Against For Reappoint Rudolf Fischer as Member of the Compensation Committee

5.4.3

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

For For Designate Adrian von Segesser as Independent Proxy

5.5

For For Ratify PricewaterhouseCoopers AG as Auditors 5.6

Against For Transact Other Business (Voting) 6

Voter Rationale: Other business not disclosed.

Blended Rationale: Other business not disclosed.

Schindler Holding AG Meeting Date: 03/19/2020 Country: Switzerland

Meeting Type: Annual Ticker: SCHP

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Share Re-registration Consent For For

UNID Co., Ltd. Meeting Date: 03/19/2020 Country: South Korea

Meeting Type: Annual Ticker: 014830

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

UNID Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Lee Hwa-young as Inside Director 2.1

For For Elect Jeong Ui-seung as Inside Director 2.2

For For Appoint Bae Gil-hun as Internal Auditor 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

Amorepacific Corp. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 090430

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Cha Sang-gyun as Outside Director 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

AmorePacific Group, Inc. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 002790

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Eon-su as Outside Director 2.1

For For Elect Kim Young-seon as Outside Director 2.2

For For Elect Lee Gyeong-mi as Outside Director 2.3

For For Elect Kim Eon-su as a Member of Audit Committee

3.1

For For Elect Kim Young-seon as a Member of Audit Committee

3.2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

AmorePacific Group, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Asia Paper Manufacturing Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 002310

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Lee Hun-beom as Inside Director 2.1

For For Elect Lee Hyeon-tak as Inside Director 2.2

For For Elect Lee Chang-ho as Inside Director 2.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Bank Millennium SA Meeting Date: 03/20/2020 Country: Poland

Meeting Type: Annual Ticker: MIL

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Elect Meeting Chairman For For

For For Elect Members of Vote Counting Commission 6

For For Receive and Approve Financial Statements, Management Board Reports on Company's and Group's Operations and Non-Financial Information for Fiscal 2019

7

For For Receive and Approve Consolidated Financial Statements for Fiscal 2019

8

For For Receive and Approve Supervisory Board Reports for Fiscal 2019

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Bank Millennium SA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Allocation of Income and Omission of Dividends

10

For For Approve Discharge of Joao Nuno Lima Bras Jorge (CEO)

11.1

For For Approve Discharge of Fernando Maria Cardoso Rodrigues Bicho (Deputy CEO)

11.2

For For Approve Discharge of Wojciech Haase (Management Board Member)

11.3

For For Approve Discharge of Andrzej Glinski (Management Board Member)

11.4

For For Approve Discharge of Wojciech Rybak (Management Board Member)

11.5

For For Approve Discharge of Antonio Ferreira Pinto Junior (Management Board Member)

11.6

For For Approve Discharge of Jaroslaw Hermann (Management Board Member)

11.7

For For Approve Discharge of Boguslaw Kott (Supervisory Board Chairman)

11.8

For For Approve Discharge of Nuno Manuel da Silva Amado (Supervisory Board Deputy Chairman)

11.9

For For Approve Discharge of Dariusz Rosati (Supervisory Board Deputy Chairman)

11.10

For For Approve Discharge of Miguel de Campos Pereira de Braganca (Supervisory Board Member)

11.11

For For Approve Discharge of Agnieszka Hryniewicz-Bieniek (Supervisory Board Member)

11.12

For For Approve Discharge of Anna Jakubowski (Supervisory Board Member)

11.13

For For Approve Discharge of Grzegorz Jedrys (Supervisory Board Member)

11.14

For For Approve Discharge of Andrzej Kozminski (Supervisory Board Member)

11.15

For For Approve Discharge of Alojzy Nowak (Supervisory Board Member)

11.16

For For Approve Discharge of Jose Miguel Bensliman Schorcht da Silva Pessanha (Supervisory Board Member)

11.17

For For Approve Discharge of Miguel Maya Dias Pinheiro (Supervisory Board Member)

11.18

For For Approve Discharge of Lingjiang Xu (Supervisory Board Member)

11.19

For For Amend Statute 12

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

BNK Financial Group, Inc. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 138930

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Ji-wan as Inside Director 2.1

For For Elect Cha Yong-gyu as Outside Director 2.2

For For Elect Moon Il-jae as Outside Director 2.3

For For Elect Jeong Gi-young as Outside Director 2.4

For For Elect Yoo Jeong-jun as Outside Director 2.5

For For Elect Son Gwang-ik as Outside Director 2.6

For For Elect Kim Chang-rok as Outside Director 2.7

For For Elect Moon Il-jae as a Member of Audit Committee

3.1

For For Elect Yoo Jeong-jun as a Member of Audit Committee

3.2

For For Elect Son Gwang-ik as a Member of Audit Committee

3.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

DAEHAN FLOUR MILLS Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 001130

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Three Inside Directors and One Outside Director (Bundled)

2

For For Appoint Kim Seong-wook as Internal Auditor 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

DAEHAN FLOUR MILLS Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

Voter Rationale: excessive quantum

Blended Rationale: excessive quantum

Elior Group SA Meeting Date: 03/20/2020 Country: France

Meeting Type: Annual/Special Ticker: ELIOR

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Statutory Reports

For For

For For Approve Consolidated Financial Statements and Statutory Reports

2

For For Approve Allocation of Income and Dividends of EUR 0.29 per Share

3

For For Approve Auditors' Special Report on Related-Party Transactions

4

For For Approve Amendment of Non-Compete Agreement with Philippe Guillemot, CEO

5

For For Approve Amendment of Severance Agreement with Philippe Guillemot, CEO

6

For For Approve Compensation of Gilles Cojan, Chairman of the Board

7

Against For Approve Compensation of Philippe Guillemot, CEO

8

Voter Rationale: Excessive discretionary payment awarded fully in cash.

Blended Rationale: Excessive discretionary payment awarded fully in cash.

For For Approve Remuneration Policy of Chairman of the Board

9

For For Approve Remuneration Policy of CEO 10

For For Approve Remuneration of Directors in the Aggregate Amount of EUR 600,000

11

For For Reelect Anne Busquet as Director 12

For For Reelect Servinvest as Director 13

For For Reelect Emesa Corporacion Empresarial S.L as Director

14

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Elior Group SA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Sofibim as Director 15

For For Appoint Deloitte & Associés as Auditor and Beas as Alternate Auditor

16

Against For Authorize Repurchase of Up to 10 Percent of Issued Share Capital

17

Voter Rationale: Can be continued during a takeover period.

Blended Rationale: Can be continued during a takeover period.

For For Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 520,000

18

For For Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 260,000

19

For For Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind

20

For For Authorize Capitalization of Reserves for Bonus Issue or Increase in Par Value

21

For For Authorize Capital Issuances for Use in Employee Stock Purchase Plans

22

For For Authorize Decrease in Share Capital via Cancellation of Repurchased Shares

23

For For Amend Article 15 of Bylaws Re: Employee Representative

24

For For Amend Article 16 of Bylaws Re: Board Decisions 25

For For Amend Article 21 of Bylaws Re: Appointment of Auditor

26

For For Authorize Filing of Required Documents/Other Formalities

27

Fomento Economico Mexicano SAB de CV Meeting Date: 03/20/2020 Country: Mexico

Meeting Type: Annual Ticker: FEMSAUBD

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Statutory Reports

For For

For For Approve Allocation of Income and Cash Dividends

2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Fomento Economico Mexicano SAB de CV Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Set Maximum Amount of Share Repurchase Reserve

3

For For Elect Directors and Secretaries, Verify Director's Independence Classification as Per Mexican Securities Law, and Approve their Remuneration

4

For For Elect Members and Chairmen of Planning and Finance, Audit, and Corporate Practices Committees; Approve Their Remuneration

5

For For Authorize Board to Ratify and Execute Approved Resolutions

6

For For Approve Minutes of Meeting 7

Fomento Economico Mexicano SAB de CV Meeting Date: 03/20/2020 Country: Mexico

Meeting Type: Annual Ticker: FEMSAUBD

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Statutory Reports

For For

For For Approve Allocation of Income and Cash Dividends

2

For For Set Maximum Amount of Share Repurchase Reserve

3

For For Elect Directors and Secretaries, Verify Director's Independence Classification as Per Mexican Securities Law, and Approve their Remuneration

4

For For Elect Members and Chairmen of Planning and Finance, Audit, and Corporate Practices Committees; Approve Their Remuneration

5

For For Authorize Board to Ratify and Execute Approved Resolutions

6

For For Approve Minutes of Meeting 7

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Financial Statements and Statutory Reports

1

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Fomento Economico Mexicano SAB de CV Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Allocation of Income and Cash Dividends

2

For For Set Maximum Amount of Share Repurchase Reserve

3

For For Elect Directors and Secretaries, Verify Director's Independence Classification as Per Mexican Securities Law, and Approve their Remuneration

4

For For Elect Members and Chairmen of Planning and Finance, Audit, and Corporate Practices Committees; Approve Their Remuneration

5

For For Authorize Board to Ratify and Execute Approved Resolutions

6

For For Approve Minutes of Meeting 7

Guangzhou Automobile Group Co., Ltd. Meeting Date: 03/20/2020 Country: China

Meeting Type: Special Ticker: 2238

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.01 Elect Chen Xiaomu as Director For For

Hana Financial Group, Inc. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 086790

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Yoon Sung-bock as Outside Director 3.1

For For Elect Park Won-koo as Outside Director 3.2

For For Elect Paik Tae-seung as Outside Director 3.3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Hana Financial Group, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Kim Hong-jin as Outside Director 3.4

For For Elect Yang Dong-hoon as Outside Director 3.5

For For Elect Heo Yoon as Outside Director 3.6

For For Elect Lee Jung-won as Outside Director 3.7

For For Elect Chah Eun-young as Outside Director to Serve as Audit Committee Member

4

For For Elect Yoon Sung-bock as a Member of Audit Committee

5.1

For For Elect Kim Hong-jin as a Member of Audit Committee

5.2

For For Elect Yang Dong-hoon as a Member of Audit Committee

5.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

6

HEICO Corporation Meeting Date: 03/20/2020 Country: USA

Meeting Type: Annual Ticker: HEI

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Thomas M. Culligan For For

For For Elect Director Adolfo Henriques 1.2

For For Elect Director Mark H. Hildebrandt 1.3

For For Elect Director Eric A. Mendelson 1.4

For For Elect Director Laurans A. Mendelson 1.5

For For Elect Director Victor H. Mendelson 1.6

For For Elect Director Julie Neitzel 1.7

For For Elect Director Alan Schriesheim 1.8

For For Elect Director Frank J. Schwitter 1.9

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

2

Blended Rationale: The minimum vesting period is less than three years.

For For Ratify Deloitte & Touche LLP as Auditors 3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Hermes Invt. Funds - Asia (ex-japan) Equity Fund Meeting Date: 03/20/2020 Country: Ireland

Meeting Type: Special Ticker: T1PX29.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Change of Company Name to Federated Hermes Investment Funds Public Limited Company; Amend Memorandum and Articles of Association

For For

HYUNDAI MARINE & FIRE INSURANCE Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 001450

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Cho Yong-il as Inside Director 2.1

For For Elect Lee Seong-jae as Inside Director 2.2

For For Elect Kim Yong-joon as Outside Director to serve as an Audit Committee Member

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Infrastrutture Wireless Italiane SpA Meeting Date: 03/20/2020 Country: Italy

Meeting Type: Special Ticker: INW

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1.1 Slate Submitted by Telecom Italia SpA None Against

For None Slate Submitted by Institutional Investors (Assogestioni)

1.1.2

For None Fix Board Terms for Directors 1.2

For None Approve Remuneration of Directors 1.3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Infrastrutture Wireless Italiane SpA

KB Financial Group, Inc. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 105560

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Hur Yin as Non-Independent Non-Executive Director

3.1

For For Elect Stuart B. Solomon as Outside Director 3.2

For For Elect Sonu Suk-ho as Outside Director 3.3

For For Elect Choi Myung-hee as Outside Director 3.4

For For Elect Jeong Kou-whan as Outside Director 3.5

For For Elect Kwon Seon-ju as Outside Director 3.6

For For Elect Oh Gyu-taek as Outside Director to serve as an Audit Committee Member

4

For For Elect Choi Myung-hee as a Member of Audit Committee

5.1

For For Elect Jeong Kou-whan as a Member of Audit Committee

5.2

For For Elect Kim Gyeong-ho as a Member of Audit Committee

5.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

6

Kingsoft Corporation Limited Meeting Date: 03/20/2020 Country: Cayman Islands

Meeting Type: Special Ticker: 3888

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Kingsoft Corporation Limited

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Proposed Spin-Off of Kingsoft Cloud Holdings Limited, Separate Listing of the New Shares of Kingsoft Cloud on Either the New York Stock Exchange or National Association of Securities Dealers Automated Quotations and Related Transactions

For For

Korea Investment Holdings Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 071050

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Amend Articles of Incorporation For For

For For Elect Kim Nam-goo as Inside Director 2.1

For For Elect Lee Gang-haeng as Inside Director 2.2

For For Elect Hobart Lee Epstein as Outside Director 2.3

For For Elect Jeong Young-rok as Outside Director 2.4

For For Elect Jeong Young-rok as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Korea Zinc Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 010130

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Choi Yoon-beom as Inside Director 2.1

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Korea Zinc Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Jang Hyeong-jin as Non-Independent Non-Executive Director

2.2

For For Elect Seong Yong-rak as Outside Director 2.3

For For Elect Lee Jong-gwang as Outside Director 2.4

For For Elect Kim Doh-hyeon as Outside Director 2.5

For For Elect Lee Jong-gwang as a Member of Audit Committee

3.1

For For Elect Kim Doh-hyeon as a Member of Audit Committee

3.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

KPX Chemical Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 025000

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Against For Elect Two Inside Directors and Two Outside Directors (Bundled)

2

Voter Rationale: Lack of independence

Blended Rationale: Lack of independence

For For Appoint Two Internal Auditors (Bundled) 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Against For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

Voter Rationale: Lack of justification for proposed increase.

Blended Rationale: Lack of justification for proposed increase.

Kwang Dong Pharmaceutical Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 009290

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Kwang Dong Pharmaceutical Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Park Sang-young as Inside Director 3.1

For For Elect Yeom Shin-il as Outside Director 3.2

For For Elect Yang Hong-seok as a Member of Audit Committee

4.1

For For Elect Lee Sang-won as a Member of Audit Committee

4.2

For For Elect Yeom Shin-il as a Member of Audit Committee

4.3

Against For Approve Total Remuneration of Inside Directors and Outside Directors

5

Voter Rationale: increase in director remuneration limit without reasonable justification.

Blended Rationale: increase in director remuneration limit without reasonable justification.

Kweichow Moutai Co., Ltd. Meeting Date: 03/20/2020 Country: China

Meeting Type: Special Ticker: 600519

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Gao Weidong as Non-Independent Director

For For

For For Elect You Yalin as Supervisor 2

LG Chem Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 051910

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

LG Chem Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kwon Young-soo as Non-Independent Non-Executive Director

2.1

For For Elect Cha Dong-seok as Inside Director 2.2

For For Elect Jeong Dong-min as Outside Director 2.3

For For Elect Jeong Dong-min as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

LG Display Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 034220

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Jeong Ho-young as Inside Director 2.1

For For Elect Suh Dong-Hee as Inside Director 2.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

LG Display Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 034220

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Jeong Ho-young as Inside Director 2.1

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

LG Display Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Suh Dong-Hee as Inside Director 2.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

LG Innotek Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 011070

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Chang-tae as Inside Director 2.1

For For Elect Ju Young-chang as Outside Director 2.2

For For Elect Ju Young-chang as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

LG Uplus Corp. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 032640

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Lee Jae-ho as Outside Director 3

For For Elect Lee Jae-ho as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Approve Spin-Off Agreement 6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Mando Corp. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 204320

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Chung Mong-won as Inside Director 2.1

For For Elect Kim Kwang-heon as Inside Director 2.2

For For Elect Kim Han-cheol as Outside Director 2.3

For For Elect Kim Kyung-soo as Outside Director 2.4

For For Elect Lee In-hyung as Outside Director 2.5

For For Elect Park Ki-chan as Outside Director 2.6

For For Elect Kim Han-cheol as a Member of Audit Committee

3.1

For For Elect Kim Kyung-soo as a Member of Audit Committee

3.2

For For Elect Lee In-hyung as a Member of Audit Committee

3.3

For For Elect Park Ki-chan as a Member of Audit Committee (This agenda will be lapsed if item 3.1-3.3 are approved)

3.4

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Amend Articles of Incorporation 5

Minerva SA Meeting Date: 03/20/2020 Country: Brazil

Meeting Type: Special Ticker: BEEF3

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Reduction in Share Capital without Cancellation of Shares and Amend Article 5 Accordingly

For For

For For Amend Article 6 to Reflect Changes in Authorized Capital

2

For For Consolidate Bylaws 3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Minerva SA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Authorize Board to Ratify and Execute Approved Resolutions

4

Minerva SA Meeting Date: 03/20/2020 Country: Brazil

Meeting Type: Annual Ticker: BEEF3

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2019

For For

For For Accept Management Statements for Fiscal Year Ended Dec. 31, 2019

2

For For Approve Allocation of Income 3

Against None Do You Wish to Adopt Cumulative Voting for the Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?

4

Against For Elect Directors 5

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

Against None In Case There is Any Change to the Board Slate Composition, May Your Votes Still be Counted for the Proposed Slate?

6

For None In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below?

7

For None Percentage of Votes to Be Assigned - Elect Ibar Vilela de Queiroz as Board Chairman and Rafael Vincentini de Queiroz as Alternate

8.1

For None Percentage of Votes to Be Assigned - Elect Frederico Alcantara de Queiroz as Board Vice-Chairman and Rafael Vincentini de Queiroz as Alternate

8.2

For None Percentage of Votes to Be Assigned - Elect Norberto Lanzara Giangrande Junior as Director and Rafael Vincentini de Queiroz as Alternate

8.3

For None Percentage of Votes to Be Assigned - Elect Alexandre Lahoz Mendonca de Barros as Director and Rafael Vincentini de Queiroz as Alternate

8.4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Minerva SA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For None Percentage of Votes to Be Assigned - Elect Sergio Carvalho Mandin Fonseca as Director and Rafael Vincentini de Queiroz as Alternate

8.5

For None Percentage of Votes to Be Assigned - Elect Gabriel Jaramillo Sanint as Independent Director

8.6

For None Percentage of Votes to Be Assigned - Elect Jose Luiz Rego Glaser as Independent Director

8.7

For None Percentage of Votes to Be Assigned - Elect Abdulaziz Saleh Al-Rebdi as Director

8.8

For None Percentage of Votes to Be Assigned - Elect Bakr Almuhanna as Director

8.9

For None Percentage of Votes to Be Assigned - Elect Mohammed Mansour A. Almousa as Director

8.10

Abstain None As an Ordinary Shareholder, Would You like to Request a Separate Minority Election of a Member of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?

9

For For Approve Classification of Gabriel Jaramillo Sanint and Jose Luiz Rego Glaser as Independent Directors

10

For For Install Fiscal Council 11

For For Fix Number of Fiscal Council Members at Three 12

For For Elect Luiz Manoel Gomes Junior as Fiscal Council Member and Marcelo Scaff Padilha as Alternate

13.1

For For Elect Dorival Antonio Bianchi as Fiscal Council Member and Emerson Cortezia de Souza as Alternate

13.2

For For Elect Franklin Saldanha Neiva Filho as Fiscal Council Member and Pedro Teixeira Dall'agnol as Alternate

13.3

Abstain None As an Ordinary Shareholder, Would You Like to Request a Separate Election of a Member of the Fiscal Council, Under the Terms of Article 161 of the Brazilian Corporate Law?

14

Against For Approve Remuneration of Company's Management and Fiscal Council

15

Voter Rationale: Figure disclosed does not include all elements of pay.

Blended Rationale: Figure disclosed does not include all elements of pay.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Motonic Corp. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 009680

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Yang Chang-mu as Outside Director 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Nongshim Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 004370

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Total Remuneration of Inside Directors and Outside Directors

For For

Organizacion Terpel SA Meeting Date: 03/20/2020 Country: Colombia

Meeting Type: Annual Ticker: TERPEL

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Approve Meeting Agenda For For

For For Elect Chairman and Secretary of Meeting 3

For For Elect Meeting Approval Committee 4

For For Present Board of Directors and Chairman's Report

5

For For Present Auditor's Report 6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Organizacion Terpel SA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Financial Statements and Statutory Reports

7

For For Approve Allocation of Income 8

Against For Other Business 9

Voter Rationale: Other business not disclosed.

Blended Rationale: Other business not disclosed.

Oxford BioDynamics Plc Meeting Date: 03/20/2020 Country: United Kingdom

Meeting Type: Annual Ticker: OBD

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Elect Dr David Holbrook as Director 2

For For Elect Dr Peter Pack as Director 3

For For Re-elect Dr Alexandre Akoulitchev as Director 4

For For Re-elect Christian Hoyer Millar as Director 5

Against For Re-elect Stephen Diggle as Director 6

Voter Rationale: All male board and head of nominating committee.

Blended Rationale: All male board and head of nominating committee.

For For Reappoint Grant Thornton UK LLP as Auditors 7

For For Authorise Board to Fix Remuneration of Auditors 8

For For Authorise Issue of Equity 9

For For Authorise Issue of Equity without Pre-emptive Rights

10

For For Authorise Market Purchase of Ordinary Shares 11

PSK Holdings, Inc. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Special Ticker: 031980

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

PSK Holdings, Inc.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Park Gyeong-su as Inside Director For For

For For Amend Articles of Incorporation 2

Public Financial Holdings Limited Meeting Date: 03/20/2020 Country: Bermuda

Meeting Type: Annual Ticker: 626

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Elect Lee Chin Guan as Director 2.1

For For Elect Quah Poh Keat as Director 2.2

For For Elect Chong Yam Kiang as Director 2.3

For For Authorize Board to Fix Remuneration of Directors

2.4

For For Approve Ernst & Young as Auditors and Authorize Board to Fix Their Remuneration

3

For For Authorize Repurchase of Issued Share Capital 4

Against For Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

5

Voter Rationale: Issuance limit is greater than 10 percent

Blended Rationale: Issuance limit is greater than 10 percent

Against For Authorize Reissuance of Repurchased Shares 6

Voter Rationale: No specification of discount limit

Blended Rationale: No specification of discount limit

Samjin Pharmaceutical Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 005500

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Samjin Pharmaceutical Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Hwang Wan-gyun as Outside Director 2.1

For For Elect Oh Dae-sik as Outside Director 2.2

For For Elect Hwang Wan-gyun as a Member of Audit Committee

3.1

For For Elect Oh Dae-sik as a Member of Audit Committee

3.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Samsung Fire & Marine Insurance Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 000810

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Jang Deok-hui as Inside Director 2.1

For For Elect Park Dae-dong as Outside Director 2.2

For For Elect Park Se-min as Outside Director to Serve as Audit Committee Member

3

For For Elect Kim Seong-jin as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Samyoung Electronics Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 005680

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Samyoung Electronics Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Kim Dae-ho as Inside Director 3.1

For For Elect Kim Min-cheol as Outside Director 3.2

For For Appoint Seo Young-cheol as Internal Auditor 4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

SK hynix, Inc. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 000660

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Lee Seok-hee as Inside Director 3

For For Elect Park Jung-ho as Non-Independent Non-Executive Director

4

For For Elect Shin Chang-hwan as Outside Director 5.1

For For Elect Han Ae-ra as Outside Director 5.2

For For Elect Ha Young-gu as a Member of Audit Committee

6.1

For For Elect Shin Chang-hwan as a Member of Audit Committee

6.2

For For Elect Han Ae-ra as a Member of Audit Committee

6.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

7

For For Approve Stock Option Grants 8

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

SK hynix, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Stock Option Grants 9

For For Approve Terms of Retirement Pay 10

SONGWON INDUSTRIAL Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 004430

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Two Inside Directors (Bundled) 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

Whan In Pharmaceutical Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 016580

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Lee Jeom-gyu as Outside Director 3

For For Elect Lee Jeom-gyu as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Young Poong Precision Corp. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 036560

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Choi Chang-gyu as Inside Director 2.1

For For Elect Jeong Soon-won as Outside Director 2.2

For For Elect Hong Seok-ju as Outside Director 2.3

For For Elect Jeong Soon-won as a Member of Audit Committee

3.1

For For Elect Hong Seok-ju as a Member of Audit Committee

3.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Youngone Holdings Co., Ltd. Meeting Date: 03/20/2020 Country: South Korea

Meeting Type: Annual Ticker: 009970

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Sundaram Finance Ltd. Meeting Date: 03/22/2020 Country: India

Meeting Type: Special Ticker: 590071

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Sundaram Finance Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Increase in Borrowing Powers For For

Akbank TAS Meeting Date: 03/23/2020 Country: Turkey

Meeting Type: Annual Ticker: AKBNK

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Open Meeting and Elect Presiding Council of Meeting

For For

For For Accept Board Report 2

For For Accept Audit Report 3

For For Accept Financial Statements 4

For For Approve Discharge of Board 5

For For Approve Allocation of Income 6

Against For Elect Directors 7

Voter Rationale: Not all director details are disclosed so we are unable to assess board composition.

Blended Rationale: Not all director details are disclosed so we are unable to assess board composition.

Against For Approve Director Remuneration 8

Voter Rationale: Remuneration not disclosed,

Blended Rationale: Remuneration not disclosed,

For For Ratify External Auditors 9

For For Approve Upper Limit of Donations for 2020 11

For For Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose

12

DONGYANG E&P, Inc. Meeting Date: 03/23/2020 Country: South Korea

Meeting Type: Annual Ticker: 079960

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

DONGYANG E&P, Inc.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Against For Elect Kang Byeong-su as Outside Director 2

Voter Rationale: Concern about lack of independence on the board.

Blended Rationale: Concern about lack of independence on the board.

For For Appoint Hong Soon-geol as Internal Auditor 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

ENF Technology Co., Ltd. Meeting Date: 03/23/2020 Country: South Korea

Meeting Type: Annual Ticker: 102710

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Kim Jeong-su as Inside Director 3

For For Appoint Hwang Yong-hui as Internal Auditor 4

Against For Approve Total Remuneration of Inside Directors and Outside Directors

5

Voter Rationale: proposed increase lacks reasonable justification.

Blended Rationale: proposed increase lacks reasonable justification.

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

Gwangju Shinsegae Co., Ltd. Meeting Date: 03/23/2020 Country: South Korea

Meeting Type: Annual Ticker: 037710

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Gwangju Shinsegae Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Lee Dong-hun as Inside Director 2.1

For For Elect Park In-cheol as Inside Director 2.2

Against For Approve Total Remuneration of Inside Directors and Outside Directors

3

Voter Rationale: proposed increase in director remuneration limit without any reasonable justification.

Blended Rationale: proposed increase in director remuneration limit without any reasonable justification.

Hansol Paper Co., Ltd. Meeting Date: 03/23/2020 Country: South Korea

Meeting Type: Annual Ticker: 213500

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Approve Stock Option Grants 2

For For Elect Han Cheol-gyu as Inside Director 3.1

For For Elect Lee Myeong-gil as Inside Director 3.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Hanwha Life Insurance Co., Ltd. Meeting Date: 03/23/2020 Country: South Korea

Meeting Type: Annual Ticker: 088350

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Hanwha Life Insurance Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Two Inside Directors and Two Outside Directors (Bundled)

2

For For Elect Park Seung-hui as Outside Director to Serve as Audit Committee Member

3

For For Elect Kim Gyeong-han as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Hanyang ENG Co., Ltd. Meeting Date: 03/23/2020 Country: South Korea

Meeting Type: Annual Ticker: 045100

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Hyeong-yook as Inside Director 2

Against For Approve Total Remuneration of Inside Directors and Outside Directors

3

Voter Rationale: excessive quantum and lack of reasonable justification

Blended Rationale: excessive quantum and lack of reasonable justification

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Hoa Phat Group JSC Meeting Date: 03/23/2020 Country: Vietnam

Meeting Type: Special Ticker: HPG

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Amend Project Investment in Hoa Phat Dung Quat Alloy and Iron Manufacturing Complex

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Human Soft Holding Co. KSCC Meeting Date: 03/23/2020 Country: Kuwait

Meeting Type: Annual/Special Ticker: HUMANSOFT

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations and Financial Position for FY 2019

For For

For For Approve Auditors' Report on Company Financial Statements for FY 2019

2

For For Accept Financial Statements and Statutory Reports for FY 2019

3

For For Approve Special Report on Violations and Penalties

4

Against For Approve Corporate Governance Report for FY 2019

5

Voter Rationale: Lack of disclosure

Blended Rationale: Lack of disclosure

For For Approve Internal Audit Committee Report for FY 2019

6

For For Approve Transfer of 10 Percent of Net Income to Statutory Reserve for FY 2019

7

For For Approve Discontinuing the Optional Reserve Transfer for FY 2019

8

For For Approve Dividends of KWD 0.200 per Share 9

For For Authorize Bonus Shares Issue Representing 10 Percent of the Share Capital for FY 2019

10

Against For Approve Remuneration Report for FY 2019 11

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

For For Approve Remuneration of Directors of KWD 200,000

12

For For Approve Related Party Transactions for FY 2019 and FY 2020

13

For For Authorize Share Repurchase Program of Up to 10 Percent of Issued Share Capital

14

For For Approve Discharge of Directors for FY 2019 15

For For Ratify Auditors and Fix Their Remuneration for FY 2020

16

For For Authorize Capitalization of Reserves for Bonus Issue Representing 10% of Share Capital

1

For For Amend Articles to Reflect Changes in Capital 2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Hyundai Mipo Dockyard Co., Ltd. Meeting Date: 03/23/2020 Country: South Korea

Meeting Type: Annual Ticker: 010620

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Jeong-hyeok as Inside Director 2.1

For For Elect Yoo Seung-won as Outside Director 2.2

For For Elect Yoo Seung-won as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Koh Young Technology, Inc. Meeting Date: 03/23/2020 Country: South Korea

Meeting Type: Annual Ticker: 098460

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation (Interim Dividend)

2.1

For For Amend Articles of Incorporation (Miscellaneous) 2.2

For For Elect Ko Gwang-il as Inside Director 3.1

For For Elect Hwang In-joon as Inside Director 3.2

For For Elect Shin Jae-deuk as Inside Director 3.3

For For Elect Kim Young-bae as Outside Director 3.4

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

MCNEX Co., Ltd. Meeting Date: 03/23/2020 Country: South Korea

Meeting Type: Annual Ticker: 097520

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Approve Stock Option Grants 2

For For Elect Oh Min-gyo as Inside Director 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

PI Industries Limited Meeting Date: 03/23/2020 Country: India

Meeting Type: Special Ticker: 523642

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For For

PT Bank Danamon Indonesia Tbk Meeting Date: 03/23/2020 Country: Indonesia

Meeting Type: Annual Ticker: BDMN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements, Statutory Reports, and Discharge of Directors and Commissioners

For For

For For Approve Allocation of Income and Dividends 2

For For Approve Tanudiredja, Wibisana, Rintis & Rekan as Auditors

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

PT Bank Danamon Indonesia Tbk Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Remuneration and Tantiem of Directors, Commissioners and Sharia Supervisory Board

4

For For Elect Directors, Commissioners and Sharia Supervisory Board

5

Against For Approve Shares Ownership Program Plan 6

Voter Rationale: lack of information to make an informed voting decision.

Blended Rationale: lack of information to make an informed voting decision.

For For Accept Report on the Use of Proceeds 7

TAV Havalimanlari Holding AS Meeting Date: 03/23/2020 Country: Turkey

Meeting Type: Annual Ticker: TAVHL

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Open Meeting, Elect Presiding Council of Meeting and Authorize Presiding Council to Sign Minutes of Meeting

For For

For For Accept Board Report 2

For For Accept Audit Report 3

For For Accept Financial Statements 4

For For Approve Discharge of Board 5

For For Approve Allocation of Income 6

For For Approve Director Remuneration 7

For For Approve Remuneration Policy 8

For For Ratify Director Appointment 9

For For Ratify External Auditors 10

For For Approve Donation Policy and Upper Limit of Donations for 2020, Receive Information on Donations Made in 2019

11

For For Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose

14

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

TES Co., Ltd. Meeting Date: 03/23/2020 Country: South Korea

Meeting Type: Annual Ticker: 095610

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Ju Sung-il as Inside Director 3.1

For For Elect Lee Jae-ho as Inside Director 3.2

For For Appoint Kang Myeon-gu as Internal Auditor 4.1

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

Unisplendour Co., Ltd. Meeting Date: 03/23/2020 Country: China

Meeting Type: Special Ticker: 000938

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Daily Related Party Transaction For For

Value Added Technology Co., Ltd. Meeting Date: 03/23/2020 Country: South Korea

Meeting Type: Annual Ticker: 043150

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Noh Chang-jun as Inside Director 3.1

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Value Added Technology Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Jeong Yeon-su as Outside Director 3.2

For For Elect Park Jeong-su as Outside Director 3.3

For For Elect Shin Yong-wan as Outside Director 3.4

For For Elect Jeong Yeon-su as a Member of Audit Committee

4.1

For For Elect Park Jeong-su as a Member of Audit Committee

4.2

For For Elect Shin Yong-wan as a Member of Audit Committee

4.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Wen's Foodstuff Group Co., Ltd. Meeting Date: 03/23/2020 Country: China

Meeting Type: Special Ticker: 300498

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Amend Management System of External Donations

For For

For For Approve Donations to Support the Prevention and Control of the Novel Coronavirus Pneumonia Epidemic

2

Against For Approve Donations to Beiying Charity Foundation of Xinxing County, Guangdong Province

3

Voter Rationale: More detailed disclosure is needed to allow shareholders to assess independence.

Blended Rationale: More detailed disclosure is needed to allow shareholders to assess independence.

Against For Approve Donations to Xinxingxian Liuzu Charity Association

4

Voter Rationale: More detailed disclosure is needed to allow shareholders to assess independence.

Blended Rationale: More detailed disclosure is needed to allow shareholders to assess independence.

Against For Approve the Confirmation of Previously Entrusted Asset Management

5

Voter Rationale: More detailed disclosure is needed to allow shareholders to assess independence.

Blended Rationale: More detailed disclosure is needed to allow shareholders to assess independence.

For For Approve Use of Temporary Excess Idle Raised Funds and Remaining Raised Funds for Cash Management

6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Wiz Solucoes e Corretagem de Seguros SA Meeting Date: 03/23/2020 Country: Brazil

Meeting Type: Annual Ticker: WIZS3

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2019

For For

For For Approve Capital Budget 2

For For Approve Allocation of Income and Dividends 3

For For Approve Remuneration of Company's Management

4

For For Fix Number of Directors at Nine 5

Against None Do You Wish to Adopt Cumulative Voting for the Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?

6

Against For Elect Directors 7

Voter Rationale: Lack of disclosure around the details of all nominees so unable to make an informed decision.

Blended Rationale: Lack of disclosure around the details of all nominees so unable to make an informed decision.

Against None In Case There is Any Change to the Board Slate Composition, May Your Votes Still be Counted for the Proposed Slate?

8

For None In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below?

9

For None Percentage of Votes to Be Assigned - Elect Fernando Carlos Borges de Melo Filho as Director and Hugo Scartezini Lopes as Alternate

10.1

For None Percentage of Votes to Be Assigned - Elect Gabriela Susana Ortiz de Rozas as Director and Rosana Techima Salsano as Alternate

10.2

For None Percentage of Votes to Be Assigned - Elect Elicio Lima as Director and Rodrigo Ortiz D'Avila Assumpcao as Alternate

10.3

For None Percentage of Votes to Be Assigned - Elect Camilo Godoy as Director and Jose Henrique Marques da Cruz as Alternate

10.4

For None Percentage of Votes to Be Assigned - Elect Miguel Angelo Junger Simas as Director and Antonio Carlos Alves as Alternate

10.5

For None Percentage of Votes to Be Assigned - Elect David Joao Almeida dos Reis Borges as Director and Fabio Nunes Lacerda as Alternate

10.6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Wiz Solucoes e Corretagem de Seguros SA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against None As an Ordinary Shareholder, Would You like to Request a Separate Minority Election of a Member of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?

11

For None Do You Wish to Request Installation of a Fiscal Council, Under the Terms of Article 161 of the Brazilian Corporate Law?

12

Wiz Solucoes e Corretagem de Seguros SA Meeting Date: 03/23/2020 Country: Brazil

Meeting Type: Special Ticker: WIZS3

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Amend Article 26 For For

For For Amend Articles 26, 29 and 30 2

For For Consolidate Bylaws 3

ALSO Holding AG Meeting Date: 03/24/2020 Country: Switzerland

Meeting Type: Annual Ticker: ALSN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

Against For Approve Remuneration Report (Non-Binding) 2

Voter Rationale: A vote AGAINST the remuneration report is warranted because: Caps on short-term incentive remuneration are not disclosed.Discretionary payments are a component of the remuneration system. Based on the company's disclosures, it appears that non-executive directors receive retirement benefits

Blended Rationale: A vote AGAINST the remuneration report is warranted because: Caps on short-term incentive remuneration are not disclosed.Discretionary payments are a component of the remuneration system. Based on the company's disclosures, it appears that non-executive directors receive retirement benefits

For For Approve Allocation of Income and Dividends of CHF 3.25 per Share from Foreign Capital Contribution Reserves

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

ALSO Holding AG Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Discharge of Board and Senior Management

4

For For Approve Remuneration of Directors in the Amount of CHF 800,000

5.1

Against For Approve Fixed Remuneration of Executive Committee in the Amount of CHF 1.5 Million

5.2

Voter Rationale: Votes AGAINST are warranted because the proposals represent a significant potential increase in remuneration, and the company has not provided a compelling rationale.

Blended Rationale: Votes AGAINST are warranted because the proposals represent a significant potential increase in remuneration, and the company has not provided a compelling rationale.

Against For Approve Variable Remuneration of Executive Committee in the Amount of CHF 4.5 Million

5.3

Voter Rationale: Votes AGAINST are warranted because the proposals represent a significant potential increase in remuneration, and the company has not provided a compelling rationale.

Blended Rationale: Votes AGAINST are warranted because the proposals represent a significant potential increase in remuneration, and the company has not provided a compelling rationale.

Against For Reelect Peter Athanas as Director 6.1.1

Voter Rationale: A vote AGAINST the chair of the nomination committee Peter Athanas is warranted as there are currently no female directors on the board.

Blended Rationale: A vote AGAINST the chair of the nomination committee Peter Athanas is warranted as there are currently no female directors on the board.

Against For Reelect Walter Droege as Director 6.1.2

Voter Rationale: Votes AGAINST the non-independent nominee Walter P.J. Droege, is warranted because of the failure to establish a majority-independent board.

Blended Rationale: Votes AGAINST the non-independent nominee Walter P.J. Droege, is warranted because of the failure to establish a majority-independent board.

Against For Reelect Rudolf Marty as Director 6.1.3

Voter Rationale: A vote AGAINST Rudolf Marty is warranted because he is non-independent and is currently the chair of the audit committee.

Blended Rationale: A vote AGAINST Rudolf Marty is warranted because he is non-independent and is currently the chair of the audit committee.

Against For Reelect Frank Tanski as Director 6.1.4

Voter Rationale: Votes AGAINST the non-independent nominee, Frank Tanski, is warranted because of the failure to establish a majority-independent board.

Blended Rationale: Votes AGAINST the non-independent nominee, Frank Tanski, is warranted because of the failure to establish a majority-independent board.

Against For Reelect Ernest-W. Droege as Director 6.1.5

Voter Rationale: Votes AGAINST the non-independent nominee Ernest-W. Droege, is warranted because of the failure to establish a majority-independent board.

Blended Rationale: Votes AGAINST the non-independent nominee Ernest-W. Droege, is warranted because of the failure to establish a majority-independent board.

For For Elect Gustavo Moeller-Hergt as Director 6.1.6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

ALSO Holding AG Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Reelect Gustavo Moeller-Hergt as Board Chairman

6.2

Voter Rationale: A vote AGAINST the chairman/CEO Gustavo Moeller-Hergt is warranted due to breach in market best practice.

Blended Rationale: A vote AGAINST the chairman/CEO Gustavo Moeller-Hergt is warranted due to breach in market best practice.

Against For Reappoint Peter Athanas as Member of the Compensation Committee

6.3.1

Voter Rationale: A vote AGAINST independent nominee Peter Athanas is warranted because his election to the board does not warrant support.

Blended Rationale: A vote AGAINST independent nominee Peter Athanas is warranted because his election to the board does not warrant support.

Against For Reappoint Walter Droege as Member of the Compensation Committee

6.3.2

Voter Rationale: Votes AGAINST non-independent nominee Walter Droege is warranted because of the failure to establish a majority-independent committee.

Blended Rationale: Votes AGAINST non-independent nominee Walter Droege is warranted because of the failure to establish a majority-independent committee.

Against For Reappoint Frank Tanski as Member of the Compensation Committee

6.3.3

Voter Rationale: Votes AGAINST non-independent nominee Frank Tanski is warranted because of the failure to establish a majority-independent committee.

Blended Rationale: Votes AGAINST non-independent nominee Frank Tanski is warranted because of the failure to establish a majority-independent committee.

For For Ratify Ernst & Young AG as Auditors 6.4

For For Designate Adrian von Segesser as Independent Proxy

6.5

Against For Transact Other Business (Voting) 7

Voter Rationale: A vote AGAINST is warranted because: This item concerns additional instructions from the shareholder to the proxy in case new voting items or counterproposals are introduced at the meeting by shareholders or the board of directors; and the content of these new items or counterproposals is not known at this time. Therefore, it is in shareholders' best interest to vote against this item on a precautionary basis.

Blended Rationale: A vote AGAINST is warranted because: This item concerns additional instructions from the shareholder to the proxy in case new voting items or counterproposals are introduced at the meeting by shareholders or the board of directors; and the content of these new items or counterproposals is not known at this time. Therefore, it is in shareholders' best interest to vote against this item on a precautionary basis.

ALSO Holding AG Meeting Date: 03/24/2020 Country: Switzerland

Meeting Type: Annual Ticker: ALSN

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

ALSO Holding AG

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Share Re-registration Consent For For

Bridgestone Corp. Meeting Date: 03/24/2020 Country: Japan

Meeting Type: Annual Ticker: 5108

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 80

For For

For For Elect Director Tsuya, Masaaki 2.1

For For Elect Director Ishibashi, Shuichi 2.2

For For Elect Director Eto, Akihiro 2.3

For For Elect Director Scott Trevor Davis 2.4

For For Elect Director Okina, Yuri 2.5

For For Elect Director Masuda, Kenichi 2.6

For For Elect Director Yamamoto, Kenzo 2.7

For For Elect Director Terui, Keiko 2.8

For For Elect Director Sasa, Seiichi 2.9

For For Elect Director Shiba, Yojiro 2.10

For For Elect Director Suzuki, Yoko 2.11

For For Elect Director Hara, Hideo 2.12

For For Elect Director Yoshimi, Tsuyoshi 2.13

Com2uS Corp. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 078340

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Com2uS Corp.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Lee Yong-gook as Inside Director 2.1

For For Elect Song Jae-jun as Inside Director 2.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Crest Nicholson Holdings Plc Meeting Date: 03/24/2020 Country: United Kingdom

Meeting Type: Annual Ticker: CRST

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Approve Final Dividend 2

For For Elect Iain Ferguson as Director 3

For For Elect Peter Truscott as Director 4

For For Elect Duncan Cooper as Director 5

For For Elect Tom Nicholson as Director 6

For For Re-elect Lucinda Bell as Director 7

For For Re-elect Sharon Flood as Director 8

For For Re-elect Louise Hardy as Director 9

For For Re-elect Octavia Morley as Director 10

For For Reappoint PricewaterhouseCoopers LLP as Auditors

11

For For Authorise the Audit and Risk Committee to Fix Remuneration of Auditors

12

For For Approve Remuneration Policy 13

For For Approve Remuneration Report 14

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Crest Nicholson Holdings Plc Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Authorise Issue of Equity 15

For For Authorise Issue of Equity without Pre-emptive Rights

16

For For Authorise Market Purchase of Ordinary Shares 17

For For Authorise the Company to Call General Meeting with Two Weeks' Notice

18

Daeyang Electric Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 108380

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Approve Total Remuneration of Inside Directors and Outside Directors

2

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

3

Daihan Pharmaceutical Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 023910

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Lee Seung-young as Inside Director 2.1

For For Elect Seo Geon-seok as Outside Director 2.2

For For Appoint Yoon Seong-su as Internal Auditor 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

DMG MORI CO., LTD. Meeting Date: 03/24/2020 Country: Japan

Meeting Type: Annual Ticker: 6141

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 30

For For

For For Elect Director Mori, Masahiko 2.1

For For Elect Director Christian Thones 2.2

For For Elect Director Tamai, Hiroaki 2.3

For For Elect Director Kobayashi, Hirotake 2.4

For For Elect Director Fujishima, Makoto 2.5

For For Elect Director James Nudo 2.6

For For Elect Director Aoyama, Tojiro 2.7

For For Elect Director Nomura, Tsuyoshi 2.8

For For Elect Director Nakajima, Makoto 2.9

For For Elect Director Mitachi, Takashi 2.10

Doosan Bobcat, Inc. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 241560

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Park Sung-chull as Inside Director 2

For For Elect Choi Ji-gwang as Outside Director 3

For For Elect Choi Ji-gwang as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Doosan Infracore Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 042670

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Lim Seong-gyun as Outside Director 2.1

For For Elect Lee Deuk-hong as Outside Director 2.2

For For Elect Lim Seong-gyun as a Member of Audit Committee

3.1

For For Elect Lee Deuk-hong as a Member of Audit Committee

3.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Emirates Telecommunications Group Co. PJSC Meeting Date: 03/24/2020 Country: United Arab Emirates

Meeting Type: Annual Ticker: ETISALAT

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations and Financial Position for FY 2019

For For

For For Approve Auditors' Report on Company Financial Statements for FY 2019

2

For For Accept Consolidated Financial Statements and Statutory Reports for FY 2019

3

For For Approve Final Dividends of AED 0.80 per Share for FY 2019

4

For For Approve Discharge of Directors for FY 2019 5

For For Approve Discharge of Auditors for FY 2019 6

For For Ratify Auditors and Fix Their Remuneration for FY 2020

7

Against For Approve Remuneration of Directors for FY 2019 8

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Emirates Telecommunications Group Co. PJSC Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Dividend Policy 9

For For Approve Charitable Donations Up to 1 Percent of Average Net Profits for FY 2018 and FY 2019

10

EVE Energy Co., Ltd. Meeting Date: 03/24/2020 Country: China

Meeting Type: Special Ticker: 300014

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Company's Eligibility for Private Placement of Shares

For For

For For Approve Issue Type and Par Value 2.1

For For Approve Issue Manner 2.2

For For Approve Basis of Pricing and Issue Price 2.3

For For Approve Issue Amount 2.4

For For Approve Target Subscribers and Subscription Method

2.5

For For Approve Lock-up Period 2.6

For For Approve Listing Exchange 2.7

For For Approve Amount and Use of Proceeds 2.8

For For Approve Distribution Arrangement of Undistributed Earnings

2.9

For For Approve Resolution Validity Period 2.10

For For Approve Private Placement of Shares 3

For For Approve Demonstration Analysis Report in Connection to Private Placement

4

For For Approve Feasibility Analysis Report on the Use of Proceeds

5

For For Approve Impact of Dilution of Current Returns on Major Financial Indicators and the Relevant Measures to be Taken

6

For For Approve Commitment from Directors, Senior Management, Controlling Shareholder, Actual Controller Regarding Counter-dilution Measures in Connection to the Private Placement

7

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

EVE Energy Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Shareholder Return Plan 8

For For Approve Special Report on the Deposit and Usage of Raised Funds

9

For For Approve Verification Report on the Usage of Previously Raised Funds

10

For For Approve Establishment of Special Account for Raised Funds

11

For For Approve Authorization of Board to Handle All Related Matters Regarding Issuance of Private Placement of Shares

12

For For Approve External Loan 13

For For Approve Provision of Guarantee 14

For For Approve Amendments to Articles of Association 15

Handsome Corp. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 020000

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Jang Ho-jin as Inside Director 2.1

For For Elect Nah Myeong-sik as Inside Director 2.2

For For Elect Yoon Young-sik as Inside Director 2.3

For For Elect Cho Seok-hyeon as Outside Director 2.4

For For Elect Yoo Chang-jo as Outside Director 2.5

For For Elect Choi Hyeon-min as Outside Director 2.6

For For Elect Cho Seok-hyeon as a Member of Audit Committee

3.1

For For Elect Yoo Chang-jo as a Member of Audit Committee

3.2

For For Elect Choi Hyeon-min as a Member of Audit Committee

3.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Handsome Corp. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Terms of Retirement Pay 5

Hulic Co., Ltd. Meeting Date: 03/24/2020 Country: Japan

Meeting Type: Annual Ticker: 3003

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 17.5

For For

For For Elect Director Nishiura, Saburo 2.1

For For Elect Director Yoshidome, Manabu 2.2

For For Elect Director Shiga, Hidehiro 2.3

For For Elect Director Kobayashi, Hajime 2.4

For For Elect Director Maeda, Takaya 2.5

For For Elect Director Nakajima, Tadashi 2.6

For For Elect Director Miyajima, Tsukasa 2.7

For For Elect Director Yamada, Hideo 2.8

For For Elect Director Fukushima, Atsuko 2.9

For For Elect Director Takahashi, Kaoru 2.10

For For Appoint Statutory Auditor Nezu, Koichi 3.1

For For Appoint Statutory Auditor Kobayashi, Nobuyuki 3.2

For For Appoint Statutory Auditor Sekiguchi, Kenichi 3.3

For For Approve Compensation Ceiling for Directors 4

Against For Approve Trust-Type Equity Compensation Plan 5

Voter Rationale: Vote against given that the specific performance hurdles are not disclosed

Blended Rationale: Vote against given that the specific performance hurdles are not disclosed

HYUNDAI HCN Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 126560

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

HYUNDAI HCN Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Approve Financial Statements and Allocation of Income (KRW 60)

For For

Against Against Approve Financial Statements and Allocation of Income (KRW 120)

1.2

For For Amend Articles of Incorporation 2

For For Elect Ryu Seong-taek as Inside Director 3.1

For For Elect Yoon Young-sik as Inside Director 3.2

For For Elect Park Seung-gwon as Outside Director 3.3

For For Elect Park Seung-gwon as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Hyundai Home Shopping Network Corp. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 057050

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Kang Chan-seok as Inside Director 3.1

For For Elect Lim Dae-gyu as Inside Director 3.2

For For Elect Kim Jae-woong as Outside Director 3.3

For For Elect Lee Don-hyeon as Outside Director 3.4

For For Elect Kim Jae-woong as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Approve Terms of Retirement Pay 6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Implenia AG Meeting Date: 03/24/2020 Country: Switzerland

Meeting Type: Annual Ticker: IMPN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Accept Financial Statements and Statutory Reports

For For

For For Approve Remuneration Report (Non-Binding) 1.2

For For Approve Allocation of Income and Dividends of CHF 0.75 per Share

2

For For Approve Special Distribution by Way of a Dividend in Kind to Effect the Spin-Off of Ina Invest Holding AG

3

For For Approve Discharge of Board and Senior Management

4

For For Approve Remuneration of Directors in the Amount of CHF 1.5 Million

5.1

For For Approve Remuneration of Executive Committee in the Amount of CHF 13 Million

5.2

For For Reelect Hans Meister as Director and as Board Chairman

6.1.1

For For Reelect Henner Mahlstedt as Director 6.1.2

For For Reelect Ines Poeschel as Director 6.1.3

For For Reelect Kyrre Johansen as Director 6.1.4

For For Reelect Laurent Vulliet as Director 6.1.5

For For Reelect Martin Fischer as Director 6.1.6

For For Reelect Barbara Lambert as Director 6.1.7

For For Reappoint Ines Poeschel as Member of the Compensation Committee

6.2.1

For For Reappoint Laurent Vulliet as Member of the Compensation Committee

6.2.2

For For Reappoint Martin Fischer as Member of the Compensation Committee

6.2.3

For For Designate Keller KLG as Independent Proxy 6.3

For For Ratify PricewaterhouseCoopers AG as Auditors 6.4

For For Change Location of Registered Office/Headquarters to Opfikon, Switzerland

7

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Implenia AG Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Transact Other Business (Voting) 8

Voter Rationale: No issues with any of the points on the agenda

Blended Rationale: No issues with any of the points on the agenda

Implenia AG Meeting Date: 03/24/2020 Country: Switzerland

Meeting Type: Annual Ticker: IMPN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Share Re-registration Consent For For

JINSUNG T.E.C. Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 036890

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Yoon Seong-su as Inside Director 2.1

For For Elect Park Jong-rae as Outside Director 2.2

For For Elect Jang Yoon-jeong as Outside Director 2.3

For For Appoint Kim Jeong-woo as Internal Auditor 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

For For Approve Terms of Retirement Pay 6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Kia Motors Corp. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 000270

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Ju Woo-jeong as Inside Director 3.1

Against For Elect Kim Deok-joong as Outside Director 3.2

Voter Rationale: concerns about independence

Blended Rationale: concerns about independence

Against For Elect Kim Dong-won as Outside Director 3.3

Voter Rationale: concerns about board independence and chair of the nominating committee

Blended Rationale: concerns about board independence and chair of the nominating committee

Against For Elect Kim Deok-joong as a Member of Audit Committee

4

Voter Rationale: concerns about independence

Blended Rationale: concerns about independence

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Korea United Pharm, Inc. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 033270

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kang Won-ho as Inside Director 2.1

For For Elect Kim Hyeong-rae as Inside Director 2.2

For For Elect Gal Won-il as Outside Director 2.3

For For Elect Kang Geon-wook as Outside Director 2.4

For For Elect Ju Jeong-dae as Outside Director 2.5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Korea United Pharm, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Gal Won-il as a Member of Audit Committee

3.1

For For Elect Kang Geon-wook as a Member of Audit Committee

3.2

For For Elect Ju Jeong-dae as a Member of Audit Committee

3.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Approve Stock Option Grants 5

For For Approve Stock Option Grants 6

Kortek Corp. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 052330

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Cheon Seong-yeol as Inside Director 2.1

For For Elect Park Se-jeong as Outside Director 2.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

LB SEMICON Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 061970

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

LB SEMICON Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Amend Articles of Incorporation 2

Voter Rationale: dilution risks to existing shareholders from proposed amendments

Blended Rationale: dilution risks to existing shareholders from proposed amendments

For For Elect Koo Bon-cheon as Inside Director 3.1

Against For Elect Ko Gwang-mo as Outside Director 3.2

Voter Rationale: poor attendance and lack of justification

Blended Rationale: poor attendance and lack of justification

For For Appoint Lee Hyeon-geun as Internal Auditor 4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

LOTTE Fine Chemical Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 004000

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Two Inside Directors and One Outside Director (Bundled)

2

For For Elect Kim Ho-jung as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Approve Terms of Retirement Pay 5

LS Industrial Systems Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 010120

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

LS Industrial Systems Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Two Inside Directors and Two Outside Directors (Bundled)

3

For For Elect Two Members of Audit Committee (Bundled)

4

Against For Approve Total Remuneration of Inside Directors and Outside Directors

5

Voter Rationale: excessive limit proposed without reasonable justification

Blended Rationale: excessive limit proposed without reasonable justification

Nabtesco Corp. Meeting Date: 03/24/2020 Country: Japan

Meeting Type: Annual Ticker: 6268

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 37

For For

For For Elect Director Teramoto, Katsuhiro 2.1

For For Elect Director Juman, Shinji 2.2

For For Elect Director Hakoda, Daisuke 2.3

For For Elect Director Akita, Toshiaki 2.4

For For Elect Director Naoki, Shigeru 2.5

For For Elect Director Kimura, Kazumasa 2.6

For For Elect Director Fujiwara, Yutaka 2.7

For For Elect Director Uchida, Norio 2.8

For For Elect Director Iizuka, Mari 2.9

For For Elect Director Mizukoshi, Naoko 2.10

For For Appoint Statutory Auditor Shimizu, Isao 3.1

For For Appoint Statutory Auditor Sasaki, Zenzo 3.2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Nabtesco Corp. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Appoint Statutory Auditor Nagasaka, Takemi 3.3

NICE INFORMATION & TELECOMMUNICATION, Inc. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 036800

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Personal Information Liability Reserve 3

For For Elect Kim Gwang-cheol as Inside Director 4.1

For For Elect Cho Dae-min as Non-Independent Non-Executive Director

4.2

For For Approve Stock Option Grants 5

For For Approve Total Remuneration of Inside Directors and Outside Directors

6

Partron Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 091700

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Jong-gu as Inside Director 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Phoenix Holdings Ltd. Meeting Date: 03/24/2020 Country: Israel

Meeting Type: Special Ticker: PHOE

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Issue Updated Indemnification Agreements to Directors/Officers Including CEO

For For

For For Issue Updated Exemption Agreements to Directors/Officers Including CEO

2

For For Approve Expense reimbursement to Directors Who Lives Outside of Israel

3

Against For Approve Compensation Policy for the Directors and Officers of the Company

4

Voter Rationale: Lack of disclosure on retention cap.

Blended Rationale: Lack of disclosure on retention cap.

For For Amend Articles Re: Exemption, Indemnification to Directors/Officers

5

For For Elect Rachel Levine as External Director 6

Against None Vote FOR if you are a controlling shareholder or have a personal interest in one or several resolutions, as indicated in the proxy card; otherwise, vote AGAINST. You may not abstain. If you vote FOR, please provide an explanation to your account manager

A

Against None If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise, vote against.

B1

Against None If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise, vote against.

B2

For None If you are an Institutional Investor as defined in Regulation 1 of the Supervision Financial Services Regulations 2009 or a Manager of a Joint Investment Trust Fund as defined in the Joint Investment Trust Law, 1994, vote FOR. Otherwise, vote against.

B3

Pola Orbis Holdings Inc. Meeting Date: 03/24/2020 Country: Japan

Meeting Type: Annual Ticker: 4927

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Pola Orbis Holdings Inc.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 81

For For

For For Elect Director Suzuki, Satoshi 2.1

For For Elect Director Kume, Naoki 2.2

For For Elect Director Fujii, Akira 2.3

For For Elect Director Yokote, Yoshikazu 2.4

For For Elect Director Kobayashi, Takuma 2.5

For For Elect Director Komiya, Kazuyoshi 2.6

For For Elect Director Ushio, Naomi 2.7

For For Elect Director Yamamoto, Hikaru 2.8

POWER LOGICS Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 047310

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Han Jeong-kwon as Inside Director 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

For For Approve Terms of Retirement Pay 4

Quartix Holdings Plc Meeting Date: 03/24/2020 Country: United Kingdom

Meeting Type: Annual Ticker: QTX

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Quartix Holdings Plc

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Approve Final Dividend 2

For For Re-elect Andrew Walters as Director 3

For For Re-elect Daniel Mendis as Director 4

For For Elect Laura Seffino as Director 5

For For Re-elect Paul Boughton as Director 6

For For Re-elect Jim Warwick as Director 7

For For Reappoint Grant Thornton UK LLP as Auditors 8

For For Authorise Board to Fix Remuneration of Auditors 9

For For Authorise Issue of Equity 10

For For Authorise Issue of Equity without Pre-emptive Rights

11

For For Authorise Market Purchase of Ordinary Shares 12

Randstad NV Meeting Date: 03/24/2020 Country: Netherlands

Meeting Type: Annual Ticker: RAND

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2b Approve Remuneration Report For For

For For Amend Articles of Association Re: Transitory Provision for the Dividend on the Preference Shares B

2c

For For Adopt Financial Statements 2d

For For Approve Dividends of EUR 2.09 Per Share 2f

For For Approve Special Dividends of EUR 2.23 Per Share

2g

For For Approve Discharge of Management Board 3a

For For Approve Discharge of Supervisory Board 3b

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Randstad NV Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Remuneration Policy for Management Board Members

4a

For For Approve Remuneration Policy for Supervisory Board Members

4b

For For Elect Rene Steenvoorden to Management Board 5

For For Elect Helene Auriol Potier to Supervisory Board 6a

For For Reelect Wout Dekker to Supervisory Board 6b

For For Grant Board Authority to Issue Shares Up To 3 Percent of Issued Capital and Restrict/Exclude Preemptive Rights

7a

For For Authorize Repurchase of Up to 10 Percent of Issued Share Capital

7b

For For Authorize Cancel Repurchase of Up to 10 Percent of Issued Share Capital under Item 7b

7c

For For Reelect Sjoerd van Keulen as Board Member of Stichting Administratiekantoor Preferente Aandelen Randstad

8

For For Ratify Deloitte as Auditors 9

Selcuk Ecza Deposu Ticaret ve Sanayi AS Meeting Date: 03/24/2020 Country: Turkey

Meeting Type: Annual Ticker: SELEC

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Open Meeting and Elect Presiding Council of Meeting

For For

For For Accept Board Report 2

For For Accept Audit Report 3

For For Accept Financial Statements 4

For For Approve Discharge of Board 5

For For Approve Allocation of Income 6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Selcuk Ecza Deposu Ticaret ve Sanayi AS Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Approve Director Remuneration for 2020 and Receive Information on Remuneration Made in 2019

7

Voter Rationale: Lack of disclosure so unable to make an informed decision.

Blended Rationale: Lack of disclosure so unable to make an informed decision.

For For Ratify External Auditors 8

Against For Approve Upper Limit of Donations for the 2020 and Receive Information on Donations Made in 2019

9

Voter Rationale: Lack of disclosure so unable to make an informed decision.

Blended Rationale: Lack of disclosure so unable to make an informed decision.

For For Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose

11

Seowonintech Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 093920

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Appoint Choi Young-il as Internal Auditor 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

SGS SA Meeting Date: 03/24/2020 Country: Switzerland

Meeting Type: Annual Ticker: SGSN

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

SGS SA

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Accept Financial Statements and Statutory Reports

For For

For For Approve Remuneration Report (Non-Binding) 1.2

For For Approve Discharge of Board and Senior Management

2

For For Approve Allocation of Income and Dividends of CHF 80.00 per Share

3

Against For Reelect Paul Desmarais as Director 4.1a

Voter Rationale: Overboarding concerns

Blended Rationale: Overboarding concerns

Against For Reelect August Francois von Finck as Director 4.1b

Voter Rationale: Long tenure

Blended Rationale: Long tenure

For For Reelect Ian Gallienne as Director 4.1c

For For Reelect Calvin Grieder as Director 4.1d

For For Reelect Cornelius Grupp as Director 4.1e

For For Reelect Gerard Lamarche as Director 4.1f

Against For Reelect Shelby du Pasquier as Director 4.1g

Voter Rationale: Long tenure.

Blended Rationale: Long tenure.

For For Reelect Kory Sorenson as Director 4.1h

For For Elect Sami Atiya as Director 4.1i

For For Elect Tobias Hartmann as Director 4.1j

For For Elect Calvin Grieder as Board Chairman 4.2

For For Appoint Ian Gallienne as Member of the Compensation Committee

4.3.1

Against For Appoint Shelby du Pasquier as Member of the Compensation Committee

4.3.2

Voter Rationale: Lack of independence on a key committee

Blended Rationale: Lack of independence on a key committee

For For Appoint Kory Sorenson as Member of the Compensation Committee

4.3.3

For For Ratify Deloitte SA as Auditors 4.4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

SGS SA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Designate Jeandin & Defacqz as Independent Proxy

4.5

For For Approve Remuneration of Directors in the Amount of CHF 2.3 Million

5.1

Against For Approve Fixed Remuneration of Executive Committee in the Amount of CHF 14 Million

5.2

Voter Rationale: Represents a potential 20% increase to level paid in 2019, which is unwarranted in our view.

Blended Rationale: Represents a potential 20% increase to level paid in 2019, which is unwarranted in our view.

For For Approve Variable Remuneration of Executive Committee in the Amount of CHF 7 Million

5.3

Against For Transact Other Business (Voting) 6

Voter Rationale: Other business not disclosed.

Blended Rationale: Other business not disclosed.

SGS SA Meeting Date: 03/24/2020 Country: Switzerland

Meeting Type: Annual Ticker: SGSN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Share Re-registration Consent For For

SimCorp A/S Meeting Date: 03/24/2020 Country: Denmark

Meeting Type: Annual Ticker: SIM

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Accept Financial Statements and Statutory Reports

For For

For For Approve Allocation of Income 3

For For Reelect Peter Schutze (Chair) as Director 4a

For For Reelect Morten Hubbe (Vice Chair) as Director 4b

For For Reelect Herve Couturier as Director 4c

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

SimCorp A/S Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Reelect Simon Jeffreys as Director 4d

For For Reelect Adam Warby as Director 4e

For For Reelect Joan Binstock as Director 4f

For For Ratify PricewaterhouseCoopers as Auditors 5

For For Approve Guidelines for Incentive-Based Compensation for Executive Management and Board

6a1

For For Approve Remuneration of Directors 6a2

For For Approve Director Indemnification 6a3

For For Authorize Share Repurchase Program 6b1

For For Approve Creation of DKK 4 Million Pool of Capital without Preemptive Rights

6b2

For For Amend Articles Re: Editorial Changes due to Merger of VP Securities A/S and VP Services A/S; Encompass Ordinary and Electronic Registration for Participation; Include Presentation of Remuneration Report in General Meeting Agenda; Editorial Changes

6b3

S-MAC Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 097780

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Cho Gyeong-suk as Inside Director 3.1

For For Elect Kim Min-chang as Inside Director 3.2

For For Elect Kim Jin-gon as Inside Director 3.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Snet Systems, Inc. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 038680

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Park Hyo-dae as Inside Director 3.1

For For Elect Jeong Hoe-gwon as Inside Director 3.2

For For Elect Kim Hyeong-woo as Inside Director 3.3

For For Elect Jeong Tae-myeong as Outside Director 3.4

Against For Approve Stock Option Grants 4

Voter Rationale: excessive dilution

Blended Rationale: excessive dilution

Against For Approve Stock Option Grants 5

Voter Rationale: excessive dilution

Blended Rationale: excessive dilution

For For Approve Total Remuneration of Inside Directors and Outside Directors

6

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

7

Soulbrain Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 036830

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Approve Terms of Retirement Pay 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Swiss Prime Site AG Meeting Date: 03/24/2020 Country: Switzerland

Meeting Type: Annual Ticker: SPSN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

Against For Approve Remuneration Report 2

Voter Rationale: Performance targets are not disclosed meaning we are unable to accurately assess pay for performance alignment

Blended Rationale: Performance targets are not disclosed meaning we are unable to accurately assess pay for performance alignment

For For Approve Discharge of Board and Senior Management

3

For For Approve Allocation of Income and Dividends of CHF 3.80 per Registered Share

4

For For Approve Remuneration of Directors in the Amount of CHF 1.8 Million

5.1

For For Approve Fixed and Variable Remuneration of Executive Committee in the Amount of CHF 8.3 Million

5.2

For For Reelect Christopher Chambers as Director 6.1.1

For For Reelect Barbara Frei-Spreiter as Director 6.1.2

For For Reelect Rudolf Huber as Director 6.1.3

For For Reelect Gabrielle Nater-Bass as Director 6.1.4

For For Reelect Mario Seris as Director 6.1.5

For For Reelect Thomas Studhalter as Director 6.1.6

For For Elect Ton Buechner as Director 6.1.7

For For Elect Ton Buechner as Board Chairman 6.2

For For Reappoint Christopher Chambers as Member of the Nomination and Compensation Committee

6.3.1

For For Reappoint Barbara Frei-Spreiter as Member of the Nomination and Compensation Committee

6.3.2

For For Reappoint Gabrielle Nater-Bass as Member of the Nomination and Compensation Committee

6.3.3

For For Designate Paul Wiesli as Independent Proxy 6.4

For For Ratify KPMG AG as Auditors 6.5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Swiss Prime Site AG Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Transact Other Business (Voting) 7

Voter Rationale: Other business not disclosed.

Blended Rationale: Other business not disclosed.

Swiss Prime Site AG Meeting Date: 03/24/2020 Country: Switzerland

Meeting Type: Annual Ticker: SPSN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Share Re-registration Consent For For

TransDigm Group Incorporated Meeting Date: 03/24/2020 Country: USA

Meeting Type: Annual Ticker: TDG

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director David Barr For For

For For Elect Director William Dries 1.2

For For Elect Director Mervin Dunn 1.3

For For Elect Director Michael S. Graff 1.4

For For Elect Director Sean P. Hennessy 1.5

For For Elect Director W. Nicholas Howley 1.6

For For Elect Director Raymond F. Laubenthal 1.7

For For Elect Director Gary E. McCullough 1.8

For For Elect Director Michele Santana 1.9

For For Elect Director Robert J. Small 1.10

For For Elect Director John Staer 1.11

For For Elect Director Kevin Stein 1.12

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

TransDigm Group Incorporated Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Advisory Vote to Ratify Named Executive Officers' Compensation

2

For For Ratify Ernst & Young LLP as Auditors 3

For Against Adopt Quantitative Company-wide GHG Goals 4

Voter Rationale: The company is asked to adopt time-based and quantitative targets to reduce its GHG emissions and its plans to achieve those targets. Given increased pressure on companies to reduce their environmental impact, and the company's lagging position in this regard, a vote "for" is warranted.

Blended Rationale: The company is asked to adopt time-based and quantitative targets to reduce its GHG emissions and its plans to achieve those targets. Given increased pressure on companies to reduce their environmental impact, and the company's lagging position in this regard, a vote "for" is warranted.

Viatron Technologies, Inc. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 141000

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Kim Byeong-guk as Inside Director 3.1

For For Elect Shin Dong-hun as Inside Director 3.2

For For Appoint Jeong Dong-gi as Internal Auditor 4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

Wal-Mart de Mexico SAB de CV Meeting Date: 03/24/2020 Country: Mexico

Meeting Type: Annual Ticker: WALMEX

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Approve Report of Audit and Corporate Practices Committees

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Wal-Mart de Mexico SAB de CV Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve CEO's Report 1b

For For Approve Board Opinion on CEO's Report 1c

For For Approve Board of Directors' Report 1d

For For Approve Report on Adherence to Fiscal Obligations

1e

For For Approve Consolidated Financial Statements 2

For For Approve Allocation of Income and Dividends of MXN 1.79 Per Share

3

For For Approve Report and Resolutions Re: Employee Stock Purchase Plan

4

For For Approve Report on Share Repurchase Reserves 5

For For Elect or Ratify Enrique Ostale as Director 6a1

For For Elect or Ratify Richard Mayfield as Director 6a2

For For Elect or Ratify Christopher Nicholas as Director 6a3

For For Elect or Ratify Guilherme Loureiro as Director 6a4

For For Elect or Ratify Lori Flees as Director 6a5

For For Elect or Ratify Kirsten Evans as Director 6a6

For For Elect or Ratify Adolfo Cerezo as Director 6a7

For For Elect or Ratify Blanca Treviño as Director 6a8

For For Elect or Ratify Roberto Newell as Director 6a9

For For Elect or Ratify Ernesto Cervera as Director 6a10

For For Elect or Ratify Eric Perez Grovas as Director 6a11

For For Elect or Ratify Adolfo Cerezo as Chairman of Audit and Corporate Practices Committees

6b1

For For Approve Discharge of Board of Directors and Officers

6b2

For For Approve Directors and Officers Liability 6b3

For For Approve Remuneration of Board Chairman 6c1

For For Approve Remuneration of Director 6c2

For For Approve Remuneration of Chairman of Audit and Corporate Practices Committees

6c3

For For Approve Remuneration of Member of Audit and Corporate Practices Committees

6c4

For For Authorize Board to Ratify and Execute Approved Resolutions

7

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Wynnstay Group Plc Meeting Date: 03/24/2020 Country: United Kingdom

Meeting Type: Annual Ticker: WYN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Approve Final Dividend 2

For For Re-elect Steve Ellwood as Director 3

Against For Re-elect Paul Roberts as Director 4

Voter Rationale: All male board.

Blended Rationale: All male board.

For For Reappoint BDO LLP as Auditors and Authorise Their Remuneration

5

For For Authorise Issue of Equity 6

For For Authorise Issue of Equity without Pre-emptive Rights

7

For For Authorise Market Purchase of Ordinary Shares 8

Yoosung Enterprise Co., Ltd. Meeting Date: 03/24/2020 Country: South Korea

Meeting Type: Annual Ticker: 002920

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Ryu Hyeon-seok as Inside Director 2.1

For For Elect Choi Cheol-gyu as Inside Director 2.2

For For Elect Choi Jong-il as Inside Director 2.3

For For Elect Lee Jong-beom as Inside Director 2.4

For For Elect Yang Won-mo as Outside Director 2.5

For For Elect Yang Won-mo as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Asahi Group Holdings Ltd. Meeting Date: 03/25/2020 Country: Japan

Meeting Type: Annual Ticker: 2502

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 48

For For

For For Elect Director Izumiya, Naoki 2.1

For For Elect Director Koji, Akiyoshi 2.2

For For Elect Director Katsuki, Atsushi 2.3

For For Elect Director Hemmi, Yutaka 2.4

For For Elect Director Taemin Park 2.5

For For Elect Director Tanimura, Keizo 2.6

For For Elect Director Kosaka, Tatsuro 2.7

For For Elect Director Shingai, Yasushi 2.8

For For Elect Director Christina L. Ahmadjian 2.9

For For Appoint Statutory Auditor Nishinaka, Naoko 3

Autoneum Holding AG Meeting Date: 03/25/2020 Country: Switzerland

Meeting Type: Annual Ticker: AUTN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Approve Allocation of Income and Omission of Dividends

2

For For Approve Discharge of Board and Senior Management

3

For For Reelect Hans-Peter Schwald as Director 4.1

For For Reelect Rainer Schmueckle as Director 4.2

For For Reelect Norbert Indlekofer as Director 4.3

For For Reelect Michael Pieper as Director 4.4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Autoneum Holding AG Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Reelect This Schneider as Director 4.5

For For Reelect Peter Spuhler as Director 4.6

For For Reelect Ferdinand Stutz as Director 4.7

For For Reelect Hans-Peter Schwald as Board Chairman 5

For For Reappoint This Schneider as Member of the Compensation Committee

6.1

For For Reappoint Hans-Peter Schwald as Member of the Compensation Committee

6.2

For For Reappoint Ferdinand Stutz as Member of the Compensation Committee

6.3

For For Ratify KPMG AG as Auditors 7

For For Designate Ulrich Mayer as Independent Proxy 8

Against For Approve Remuneration Report (Non-Binding) 9

Voter Rationale: The company's equity compensation system is not aligned with shareholder interests

Blended Rationale: The company's equity compensation system is not aligned with shareholder interests

For For Approve Remuneration of Directors in the Amount of CHF 1.8 Million

10

For For Approve Remuneration of Executive Committee in the Amount of CHF 8.5 Million

11

Against For Transact Other Business (Voting) 12

Voter Rationale: Other business not disclosed

Blended Rationale: Other business not disclosed

Autoneum Holding AG Meeting Date: 03/25/2020 Country: Switzerland

Meeting Type: Annual Ticker: AUTN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Share Re-registration Consent For For

Beazley Plc Meeting Date: 03/25/2020 Country: United Kingdom

Meeting Type: Annual Ticker: BEZ

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Beazley Plc

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

Against For Approve Remuneration Report 2

Voter Rationale: To much emphasis on short term targets over long term. Lack of stretch in targets

Blended Rationale: To much emphasis on short term targets over long term. Lack of stretch in targets

Against For Approve Remuneration Policy 3

Voter Rationale: To much emphasis on short term targets over long term

Blended Rationale: To much emphasis on short term targets over long term

For For Approve Second Interim Dividend 4

For For Re-elect Adrian Cox as Director 5

For For Re-elect Andrew Horton as Director 6

For For Re-elect Christine LaSala as Director 7

Against For Re-elect Sir Andrew Likierman as Director 8

Voter Rationale: Continued remuneration issues.

Blended Rationale: Continued remuneration issues.

For For Re-elect David Roberts as Director 9

For For Re-elect John Sauerland as Director 10

For For Re-elect Robert Stuchbery as Director 11

For For Re-elect Catherine Woods as Director 12

For For Elect Nicola Hodson as Director 13

For For Elect Sally Lake as Director 14

For For Elect John Reizenstein as Director 15

For For Reappoint EY as Auditors 16

For For Authorise the Audit and Risk Committee to Fix Remuneration of Auditors

17

For For Authorise Issue of Equity 18

For For Authorise Issue of Equity without Pre-emptive Rights

19

For For Authorise Market Purchase of Ordinary Shares 20

For For Authorise the Company to Call General Meeting with Two Weeks' Notice

21

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

BGF Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 027410

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Ryu Cheol-han as Inside Director 2.1

For For Elect Han Sang-dae as Outside Director 2.2

For For Elect Seong Young-hun as Outside Director 2.3

Against For Approve Total Remuneration of Inside Directors and Outside Directors

3

Voter Rationale: Lack of reasonable justification for excessive remuneration cap

Blended Rationale: Lack of reasonable justification for excessive remuneration cap

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

BGF Retail Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 282330

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Lee Geon-joon as Inside Director 3.1

For For Elect Hong Jeong-guk as Non-Independent Non-Executive Director

3.2

For For Elect Kim Nan-doh as Outside Director 3.3

For For Elect Kim Nan-doh as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

BINGGRAE Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 005180

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Jeon Chang-won as Inside Director 3.1

For For Elect Kim Ho-yeon as Inside Director 3.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

China Petroleum & Chemical Corp. Meeting Date: 03/25/2020 Country: China

Meeting Type: Special Ticker: 386

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Zhang Yuzhuo as Director For For

DAEWOO SHIPBUILDING & MARINE ENGINEERING Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 042660

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

DAEWOO SHIPBUILDING & MARINE ENGINEERING Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Elect Park Du-seon as Inside Director 3.1

Voter Rationale: lack of independence

Blended Rationale: lack of independence

For For Elect Choi Jae-ho as Outside Director 3.2

For For Elect Choi Jae-ho as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Dongbu Corp. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 005960

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Heo Sang-hui as Inside Director 2.1

For For Elect Noh Dong-seon as Inside Director 2.2

For For Elect Lee Gwan-jin as Outside Director 2.3

For For Appoint Kwon Seok-won as Internal Auditor 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

For For Approve Spin-Off Agreement 6

Doosan Fuel Cell Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 336260

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Doosan Fuel Cell Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

Against For Approve Total Remuneration of Inside Directors and Outside Directors

3

Voter Rationale: excessive remuneration limit and lack of reasonable justification

Blended Rationale: excessive remuneration limit and lack of reasonable justification

Doosan Solus Co. Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 336370

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Approve Total Remuneration of Inside Directors and Outside Directors

2

DoubleUGames Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 192080

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Personal Liability Protection Reserve 2

For For Approve Terms of Retirement Pay 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

DOUZONE BIZON Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 012510

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect One Inside Director and One Outside Director (Bundled)

3

For For Appoint Kim Gyeong-doh as Internal Auditor 4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

EM-Tech. Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 091120

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Cho Jin-ho as Outside Director 2

For For Appoint Shin Hong-soon as Internal Auditor 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

Givaudan SA Meeting Date: 03/25/2020 Country: Switzerland

Meeting Type: Annual Ticker: GIVN

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Givaudan SA

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Approve Remuneration Report 2

For For Approve Allocation of Income and Dividends of CHF 62 per Share

3

For For Approve Discharge of Board and Senior Management

4

For For Reelect Victor Balli as Director 5.1.1

For For Reelect Werner Bauer as Director 5.1.2

For For Reelect Lilian Biner as Director 5.1.3

For For Reelect Michael Carlos as Director 5.1.4

For For Reelect Ingrid Deltenre as Director 5.1.5

For For Reelect Calvin Grieder as Director 5.1.6

For For Reelect Thomas Rufer as Director 5.1.7

For For Elect Olivier Filliol as Director 5.2.1

For For Elect Sophie Gasperment as Director 5.2.2

For For Reelect Calvin Grieder as Board Chairman 5.3

For For Reappoint Werner Bauer as Member of the Compensation Committee

5.4.1

For For Reappoint Ingrid Deltenre as Member of the Compensation Committee

5.4.2

For For Reappoint Victor Balli as Member of the Compensation Committee

5.4.3

For For Designate Manuel Isler as Independent Proxy 5.5

For For Ratify Deloitte AG as Auditors 5.6

For For Approve Remuneration of Directors in the Amount of CHF 3.4 Million

6.1

For For Approve Short Term Variable Remuneration of Executive Committee in the Amount of CHF 4.3 Million

6.2.1

For For Approve Fixed and Long Term Variable Remuneration of Executive Committee in the Amount of CHF 15.3 Million

6.2.2

Against For Transact Other Business (Voting) 7

Voter Rationale: Other business not disclosed.

Blended Rationale: Other business not disclosed.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Givaudan SA Meeting Date: 03/25/2020 Country: Switzerland

Meeting Type: Annual Ticker: GIVN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Share Re-registration Consent For For

Grieg Seafood ASA Meeting Date: 03/25/2020 Country: Norway

Meeting Type: Special Ticker: GSF

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Chairman of Meeting; Designate Inspector(s) of Minutes of Meeting

For For

For For Approve Notice of Meeting and Agenda 2

For For Approve Transaction with Related Party; Approve Acquisition of Shares in Grieg Newfoundland AS

3

Hanon Systems Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 018880

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Approve Stock Option Grants 2

Against For Elect Four Outside Directors and One NI-NED (Bundled)

3

Voter Rationale: poor attendance of Han Sang-won

Blended Rationale: poor attendance of Han Sang-won

For For Elect Two Members of Audit Committee (Bundled)

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Hanon Systems Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Amend Articles of Incorporation 6

HDC Holdings Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 012630

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Lee Bang-ju as Outside Director 2

For For Elect Lee Bang-ju as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Huchems Fine Chemical Corp. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 069260

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Five Inside Directors and Two Outside Directors (Bundled)

2

Against For Appoint Lee Geon as Internal Auditor 3

Voter Rationale: concerns about independence

Blended Rationale: concerns about independence

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Hyundai Department Store Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 069960

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Jeong Ji-seon as Inside Director 3.1

For For Elect Kim Hyeong-jong as Inside Director 3.2

For For Elect Jang Ho-jin as Inside Director 3.3

For For Elect Noh Min-gi as Outside Director 3.4

For For Elect Ko Bong-chan as Outside Director 3.5

For For Elect Ko Bong-chan as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Approve Terms of Retirement Pay 6

Hyundai Development Co. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 294870

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Lee Hyeong-jae as Inside Director 2.1

For For Elect Kwon In-so as Outside Director 2.2

For For Elect Choi Gyu-yeon as Outside Director 2.3

For For Elect Choi Gyu-yeon as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Industrial Bank of Korea Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 024110

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Against For Approve Total Remuneration of Inside Directors and Outside Directors

2

Voter Rationale: Lack of reasonable justification for proposed increase

Blended Rationale: Lack of reasonable justification for proposed increase

Against For Authorize Board to Fix Remuneration of Internal Auditor(s)

3

Voter Rationale: Lack of reasonable justification for proposed increase

Blended Rationale: Lack of reasonable justification for proposed increase

INPEX Corp. Meeting Date: 03/25/2020 Country: Japan

Meeting Type: Annual Ticker: 1605

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 18

For For

For For Elect Director Kitamura, Toshiaki 2.1

For For Elect Director Ueda, Takayuki 2.2

For For Elect Director Ito, Seiya 2.3

For For Elect Director Ikeda, Takahiko 2.4

For For Elect Director Yajima, Shigeharu 2.5

For For Elect Director Kittaka, Kimihisa 2.6

For For Elect Director Sase, Nobuharu 2.7

For For Elect Director Yamada, Daisuke 2.8

For For Elect Director Yanai, Jun 2.9

For For Elect Director Iio, Norinao 2.10

For For Elect Director Nishimura, Atsuko 2.11

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

INPEX Corp. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Kimura, Yasushi 2.12

For For Elect Director Ogino, Kiyoshi 2.13

For For Elect Director Nishikawa, Tomo 2.14

For For Approve Annual Bonus 3

KANGNAM JEVISCO CO., LTD. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 000860

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

Kao Corp. Meeting Date: 03/25/2020 Country: Japan

Meeting Type: Annual Ticker: 4452

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 65

For For

For For Amend Articles to Amend Provisions on Director Titles

2

For For Elect Director Sawada, Michitaka 3.1

For For Elect Director Takeuchi, Toshiaki 3.2

For For Elect Director Hasebe, Yoshihiro 3.3

For For Elect Director Matsuda, Tomoharu 3.4

For For Elect Director Kadonaga, Sonosuke 3.5

For For Elect Director Shinobe, Osamu 3.6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Kao Corp. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Mukai, Chiaki 3.7

For For Elect Director Hayashi, Nobuhide 3.8

For For Appoint Statutory Auditor Nakazawa, Takahiro 4

KC Co., Ltd. (South Korea) Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 029460

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Ko Seok-tae as Inside Director 3.1

For For Elect Moon Seon-mok as Inside Director 3.2

For For Elect Oh Jeong-don as Inside Director 3.3

For For Elect Kim Yong-ho as Outside Director 3.4

For For Appoint Kang Soon-gon as Internal Auditor 4

Against For Approve Total Remuneration of Inside Directors and Outside Directors

5

Voter Rationale: increase and lack of justification

Blended Rationale: increase and lack of justification

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

KCTech Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 281820

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

KCTech Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Amend Articles of Incorporation 2

Against For Elect Yang Ho-geun as Inside Director 3

Voter Rationale: concerns about independence

Blended Rationale: concerns about independence

For For Appoint Kwon Bong-su as Internal Auditor 4

Against For Approve Total Remuneration of Inside Directors and Outside Directors

5

Voter Rationale: increase without reasonable justification

Blended Rationale: increase without reasonable justification

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

Kyobo Securities Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 030610

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Kim Hae-jun as Inside Director 3.1

For For Elect Park Bong-gwon as Inside Director 3.2

For For Elect Shin Yoo-sam as Outside Director to Serve as Audit Committee Member

4.1

For For Elect Kim Dong-hwan as Outside Director to Serve as Audit Committee Member

4.2

For For Elect Lee Chan-woo as Outside Director to Serve as Audit Committee Member

4.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Approve Terms of Retirement Pay 6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Kyung Dong Navien Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 009450

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Son Yeon-ho as Inside Director 3.1

For For Elect Kim Jong-wook as Inside Director 3.2

For For Elect Kim Du-sik as Inside Director 3.3

For For Elect Kim Yong-beom as Inside Director 3.4

For For Elect Son Heung-rak as Inside Director 3.5

For For Elect Jeong Moon-geon as Outside Director 3.6

For For Elect Son Yang-hun as Outside Director 3.7

For For Appoint Kim Doh-yoon as Internal Auditor 4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

Lotte Chemical Corp. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 011170

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

Against For Elect One Inside Director, Five Outside Directors and One NI-NED (Bundled)

3

Voter Rationale: concerns about independence

Blended Rationale: concerns about independence

For For Elect Two Members of Audit Committee (Bundled)

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Lotte Chemical Corp. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Approve Terms of Retirement Pay 6

McCarthy & Stone Plc Meeting Date: 03/25/2020 Country: United Kingdom

Meeting Type: Annual Ticker: MCS

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

Against For Approve Remuneration Report 2

Voter Rationale: Non financial paying out when financial targets not met.

Blended Rationale: Non financial paying out when financial targets not met.

For For Approve Remuneration Policy 3

For For Approve Final Dividend 4

For For Re-elect Paul Lester as Director 5

For For Re-elect Rowan Baker as Director 6

For For Re-elect John Tonkiss as Director 7

For For Re-elect Geeta Nanda as Director 8

For For Re-elect Frank Nelson as Director 9

For For Re-elect John Carter as Director 10

For For Re-elect Mike Lloyd as Director 11

For For Re-elect Nigel Turner as Director 12

For For Elect Gill Barr as Director 13

For For Re-elect Arun Nagwaney as Director 14

For For Reappoint Ernst & Young LLP as Auditors 15

For For Authorise the Risk and Audit Committee to Fix Remuneration of Auditors

16

For For Authorise EU Political Donations and Expenditure

17

For For Authorise Issue of Equity 18

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

McCarthy & Stone Plc Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Authorise Issue of Equity without Pre-emptive Rights

19

For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or Other Capital Investment

20

For For Authorise Market Purchase of Ordinary Shares 21

For For Authorise the Company to Call General Meeting with Two Weeks' Notice

22

Micro Focus International Plc Meeting Date: 03/25/2020 Country: United Kingdom

Meeting Type: Annual Ticker: MCRO

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Approve Final Dividend 2

Against For Approve Remuneration Report 3

Voter Rationale: Lack of disclosure on LTIP targets.

Blended Rationale: Lack of disclosure on LTIP targets.

For For Approve Remuneration Policy 4

For For Elect Greg Lock as Director 5

For For Re-elect Stephen Murdoch as Director 6

For For Re-elect Brian McArthur-Muscroft as Director 7

Against For Re-elect Karen Slatford as Director 8

Voter Rationale: Over boarded with multiple external appointments.

Blended Rationale: Over boarded with multiple external appointments.

For For Re-elect Richard Atkins as Director 9

Against For Re-elect Amanda Brown as Director 10

Voter Rationale: Poor remuneration practices.

Blended Rationale: Poor remuneration practices.

For For Re-elect Lawton Fitt as Director 11

For For Reappoint KPMG LLP as Auditors 12

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Micro Focus International Plc Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Authorise Board to Fix Remuneration of Auditors 13

For For Authorise Issue of Equity 14

For For Authorise Issue of Equity without Pre-emptive Rights

15

For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or Other Capital Investment

16

For For Authorise Market Purchase of Ordinary Shares 17

For For Authorise the Company to Call General Meeting with Two Weeks' Notice

18

MIRAE ASSET Life Insurance Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 085620

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements For For

For For Amend Articles of Incorporation 2

For For Approve Appropriation of Income 3

For For Approve Terms of Retirement Pay 4

For For Elect Ha Man-deok as Inside Director 5.1

For For Elect Byeon Jae-sang as Inside Director 5.2

For For Elect Lee Gyeong-seop as Outside Director 5.3

For For Elect Kim Hak-ja as Outside Director 5.4

For For Elect Choi Seung-jae as Outside Director 5.5

For For Elect Wi Gyeong-woo as Outside Director to Serve as Audit Committee Member

6

For For Elect Lee Gyeong-seop as a Member of Audit Committee

7.1

For For Elect Kim Hak-ja as a Member of Audit Committee

7.2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

MIRAE ASSET Life Insurance Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Approve Total Remuneration of Inside Directors and Outside Directors

8

Voter Rationale: excessive remuneration limit and lack of reasonable justification

Blended Rationale: excessive remuneration limit and lack of reasonable justification

Moorim P&P Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 009580

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Lim Yong-su as Inside Director 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

NCsoft Corp. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 036570

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Jo Gook-hyeon as Outside Director 2.1

For For Elect Choi Young-ju as Outside Director 2.2

For For Elect Jo Gook-hyeon as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

NEXON Co., Ltd. Meeting Date: 03/25/2020 Country: Japan

Meeting Type: Annual Ticker: 3659

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Owen Mahoney For Against

Voter Rationale: Lack of board gender diversity.

Blended Rationale: Lack of board gender diversity.

For For Elect Director Uemura, Shiro 1.2

For For Elect Director Patrick Soderlund 1.3

For For Elect Director and Audit Committee Member Hongwoo Lee

2.1

For For Elect Director and Audit Committee Member Honda, Satoshi

2.2

For For Elect Director and Audit Committee Member Kuniya, Shiro

2.3

For For Approve Stock Option Plan 3

NH Investment & Securities Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 005940

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Jeong Young-chae as Inside Director 2.1

For For Elect Hong Seok-dong as Outside Director 2.2

For For Elect Jeong Tae-seok as Outside Director 2.3

For For Elect Lee Jeong-dae as Non-Independent Non-Executive Director

2.4

For For Elect Kim Hyeong-shin as Non-Independent Non-Executive Director

2.5

For For Elect Jeong Young-chae as CEO 3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

NH Investment & Securities Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Elect Lim Byeong-soon as Inside Director to Serve as an Audit Committee Member

4

Voter Rationale: concerns about independence

Blended Rationale: concerns about independence

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Nordea Bank Abp Meeting Date: 03/25/2020 Country: Finland

Meeting Type: Annual Ticker: NDA.SE

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Designate Inspector or Shareholder Representative(s) of Minutes of Meeting

For For

For For Acknowledge Proper Convening of Meeting 4

For For Prepare and Approve List of Shareholders 5

For For Accept Financial Statements and Statutory Reports

7

For For Approve Allocation of Income and Dividends of EUR 0.40 Per Share

8

For For Approve Discharge of Board and President 9

Against For Approve Remuneration Policy And Other Terms of Employment For Executive Management

10

Voter Rationale: Lack of disclosure around the performance criteria used in the annual bonus and LTIP.

Blended Rationale: Lack of disclosure around the performance criteria used in the annual bonus and LTIP.

For For Approve Remuneration of Directors in the Amount of EUR 300,000 for Chairman, EUR 145,000 for Vice Chairman, and EUR 95,000 for Other Directors; Approve Remuneration for Committee Work

11

For For Fix Number of Directors at Ten 12

For For Reelect Torbjorn Magnusson (Chairperson), Nigel Hinshelwood, Birger Steen, Sarah Russell, Robin Lawther, Pernille Erenbjerg, Kari Jordan, Petra van Hoeken and John Maltby as Directors; Elect Jonas Synnergren as New Director

13

For For Approve Remuneration of Auditors 14

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Nordea Bank Abp Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Ratify PricewaterhouseCoopers as Auditors 15

For For Approve Instructions for Shareholders' Nomination Board

16

For For Approve Issuance of Convertible Instruments without Preemptive Rights

17

For For Authorize Share Repurchase Program in the Securities Trading Business

18.a

For For Authorize Reissuance of Repurchased Shares 18.b

For For Authorize Share Repurchase Program and Reissuance and/or Cancellation of Repurchased Shares

19.a

For For Approve Issuance of up to 30 Million Shares without Preemptive Rights

19.b

OPTORUN Co., Ltd. Meeting Date: 03/25/2020 Country: Japan

Meeting Type: Annual Ticker: 6235

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 60

For For

For For Elect Director Hayashi, Ihei 2.1

For For Elect Director Takahashi, Toshinori 2.2

For For Elect Director Bin Fan 2.3

For For Elect Director Min Rin 2.4

For For Elect Director Higuchi, Takeshi 2.5

For For Elect Director Yamazaki, Naoko 2.6

PetroChina Company Limited Meeting Date: 03/25/2020 Country: China

Meeting Type: Special Ticker: 857

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

PetroChina Company Limited

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Dai Houliang as Director For For

For For Elect Lv Bo as Director 1.2

For For Elect Li Fanrong as Director 1.3

Riyad Bank Meeting Date: 03/25/2020 Country: Saudi Arabia

Meeting Type: Annual Ticker: 1010

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations for FY 2019

For For

For For Accept Financial Statements and Statutory Reports for FY 2019

2

For For Approve Discharge of Directors for FY 2019 3

For For Approve Remuneration of Directors of SAR 5,480 Million for FY 2019

4

For For Approve Dividends of SAR 0.55 per Share for Second Half of FY 2019 so Total Dividends of SAR 1.07 per Share for FY 2019

5

For For Approve Interim Dividends Semi-Annually and Quarterly for FY 2020

6

For For Ratify Auditors and Fix Their Remuneration for FY 2020

7

For For Approve Audit Committee Charter 8

For For Approve Nomination and Remuneration Committee Charter

9

Against For Approve Related Party Transactions 10

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

For For Approve Related Party Transactions Re: General Organization for Social Insurance

11

For For Approve Related Party Transactions Re: Saudi Telecom Company

12

For For Approve Related Party Transactions Re: Saudi Mobily Company

13

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Riyad Bank Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Related Party Transactions Re: Makarim Umm Al Qura Hotel

14

For For Approve Related Party Transactions Re: Dur Hospitality Company

15

Samba Financial Group Meeting Date: 03/25/2020 Country: Saudi Arabia

Meeting Type: Annual Ticker: 1090

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations for FY 2019

For For

For For Approve Auditors' Report on Company Financial Statements for FY 2019

2

For For Accept Consolidated Financial Statements and Statutory Reports for FY 2019

3

For For Approve Dividends of SAR 0.70 Per Share for Second Half of FY 2019

4

For For Approve Remuneration of Directors SAR 4,685,000 for FY 2019

5

For For Approve Discharge of Directors for FY 2019 6

For For Ratify Auditors and Fix Their Remuneration for Q1 FY 2020

7

For For Ratify Auditors and Fix Their Remuneration for FY 2020 and Q1 of FY 2021

8

For For Approve Interim Dividends Semi Annually or Quarterly for FY 2020

9

For For Amend Nomination and Remuneration Committee Charter

10

For For Allow Khalid Al Suweilim to Be Involved with Other Companies

11

For For Allow Ibraheem Al Mufraj to Be Involved with Other Companies

12

For For Allow Abdullah Al Ruweis to Be Involved with Other Companies

13

For For Approve Related Party Transactions Re: General Organization for Social Insurance

14

For For Approve Related Party Transactions Re: General Organization for Social Insurance

15

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Samba Financial Group Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Related Party Transactions Re: National Medical Care Company

16

For For Approve Related Party Transactions Re: Saudi Arabian Airlines

17

For For Approve Related Party Transactions Re: General Civil Aviation Authority

18

For For Approve Related Party Transactions Re: General Civil Aviation Authority

19

For For Approve Related Party Transactions Re: Damam Airports Company

20

For For Approve Related Party Transactions Re: Mobily 21

Shinsegae I&C, Inc. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Special Ticker: 035510

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Sale of Company Assets For For

Shinsegae I&C, Inc. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 035510

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Yoon Dae-gyun as Outside Director 3.1

For For Elect Han Dong-su as Outside Director 3.2

For For Elect Yoon Dae-gyun as a Member of Audit Committee

4.1

For For Elect Han Dong-su as a Member of Audit Committee

4.2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Shinsegae I&C, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Shiseido Co., Ltd. Meeting Date: 03/25/2020 Country: Japan

Meeting Type: Annual Ticker: 4911

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 30

For For

For For Elect Director Uotani, Masahiko 2.1

For For Elect Director Shimatani, Yoichi 2.2

For For Elect Director Suzuki, Yukari 2.3

For For Elect Director Tadakawa, Norio 2.4

For For Elect Director Fujimori, Yoshiaki 2.5

For For Elect Director Ishikura, Yoko 2.6

For For Elect Director Iwahara, Shinsaku 2.7

For For Elect Director Oishi, Kanoko 2.8

For For Appoint Statutory Auditor Nonomiya, Ritsuko 3

For For Approve Performance Share Plan 4

Shizuoka Gas Co., Ltd. Meeting Date: 03/25/2020 Country: Japan

Meeting Type: Annual Ticker: 9543

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 8

For For

For For Amend Articles to Allow Sales of Supplementary Shares to Odd-Lot Holders

2

For For Elect Director Tonoya, Hiroshi 3.1

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Shizuoka Gas Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Kishida, Hiroyuki 3.2

For For Elect Director Endo, Masakazu 3.3

For For Elect Director Sugiyama, Akihiro 3.4

For For Elect Director Kosugi, Mitsunobu 3.5

For For Elect Director Nozue, Juichi 3.6

For For Elect Director Nakanishi, Katsunori 3.7

For For Elect Director Kato, Yuriko 3.8

For For Elect Director Hirano, Hajime 3.9

For For Appoint Statutory Auditor Iida, Koji 4

Sindoh Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 029530

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect One Inside Director and Three Outside Directors (Bundled)

2

For For Elect Three Members of Audit Committee (Bundled)

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

SK Holdings Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 034730

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

SK Holdings Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Amend Articles of Incorporation 2

For For Elect Jang Dong-hyun as Inside Director 3.1

For For Elect Park Sung-ha as Inside Director 3.2

For For Elect Jang Yong-suk as Outside Director 3.3

For For Elect Jang Yong-suk as a Member of Audit Committee

4

For For Approve Stock Option Grants 5

For For Approve Total Remuneration of Inside Directors and Outside Directors

6

For For Approve Terms of Retirement Pay 7

Svenska Handelsbanken AB Meeting Date: 03/25/2020 Country: Sweden

Meeting Type: Annual Ticker: SHB.A

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Elect Chairman of Meeting For For

For For Prepare and Approve List of Shareholders 3

For For Approve Agenda of Meeting 4

For For Designate Inspector(s) of Minutes of Meeting 5

For For Acknowledge Proper Convening of Meeting 6

For For Accept Financial Statements and Statutory Reports

8

For For Approve Allocation of Income and Dividends of SEK 5.50 Per Share

9

For For Approve Discharge of Board and President 10

For For Authorize Repurchase of up to 120 Million Class A and/or B Shares and Reissuance of Repurchased Shares

11

For For Authorize Share Repurchase Program 12

For For Approve Issuance of Convertible Capital Instruments Corresponding to a Maximum of 198 Million Shares without Preemptive Rights

13

For For Determine Number of Directors (9) 14

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Svenska Handelsbanken AB Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Determine Number of Auditors (2) 15

For For Approve Remuneration of Directors in the Amount of SEK 3.5 Million for Chairman, SEK 985,000 for Vice Chairman, and SEK 700,000 for Other Directors; Approve Remuneration for Committee Work; Approve Remuneration of Auditors

16

Against For Reelect Jon-Fredrik Baksaas as Director 17a

Voter Rationale: Lack of independence on the audit committee.

Blended Rationale: Lack of independence on the audit committee.

For For Reelect Hans Biorck as Director 17b

Against For Reelect Par Boman as Director 17c

Voter Rationale: Lack of independence on the audit committee as well as overboarding concerns.

Blended Rationale: Lack of independence on the audit committee as well as overboarding concerns.

For For Reelect Kerstin Hessius as Director 17d

For For Reelect Lise Kaae as Director 17e

For For Reelect Fredrik Lundberg as Director 17f

For For Elect Ulf Riese as New Director 17g

For For Elect Arja Taaveniku as New Director 17h

For For Reelect Carina Akerstrom as Director 17i

Against For Reelect Par Boman as Board Chairman 18

Voter Rationale: Overboarding concerns.

Blended Rationale: Overboarding concerns.

For For Ratify Ernst & Young and PricewaterhouseCoopers as Auditors

19

For For Approve Remuneration Policy And Other Terms of Employment For Executive Management

20

For For Approve Proposal Concerning the Appointment of Auditors in Foundations Without Own Management

21

For None Eliminate Differentiated Voting Rights 22

Against None Instruct Board to Work for the Abolishment of Different Levels of Voting Rights for Shares in the Swedish Companies Act

23

Against None Instruct Board to Prepare Proposal for Representation of Small and Medium-Sized Shareholders on the Company's Board and Nomination Committee, to be Submitted to AGM 2021

24

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Svenska Handelsbanken AB Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against None Require a Special Examination Regarding Introduction of Negative Interest Rates and Review of Code of Ethics

25

TOKAI CARBON KOREA Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 064760

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Park Young-soon as Inside Director 2.1

Against For Elect Takahashi Hiroshi as Inside Director 2.2

Voter Rationale: concerns about independence

Blended Rationale: concerns about independence

For For Elect Mori Takeshi as Outside Director 2.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

For For Amend Articles of Incorporation 5

TOP Engineering Co., Ltd Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 065130

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Won-nam as Inside Director 2.1

For For Elect Ahn Man-ho as Inside Director 2.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Toukei Computer Co., Ltd. Meeting Date: 03/25/2020 Country: Japan

Meeting Type: Annual Ticker: 4746

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 110

For For

For For Elect Director Koda, Hiroyasu 2.1

For For Elect Director Koda, Hideki 2.2

For For Elect Director Koga, Yuji 2.3

For For Elect Director Yamaguchi, Kenji 2.4

For For Elect Director Nagasawa, Toshio 2.5

For For Elect Director Yuri, Yoshihiro 2.6

Against For Elect Alternate Director and Audit Committee Member Isozaki, Naoko

3

Blended Rationale: A vote AGAINST this director nominee is warranted because:- This outside director candidate who will be an audit committee member lacks independence.

For For Approve Stock Option Plan 4

Unicharm Corp. Meeting Date: 03/25/2020 Country: Japan

Meeting Type: Annual Ticker: 8113

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Takahara, Takahisa For For

For For Elect Director Ishikawa, Eiji 1.2

For For Elect Director Mori, Shinji 1.3

For For Approve Restricted Stock Plan 2

United Bank Ltd. Meeting Date: 03/25/2020 Country: Pakistan

Meeting Type: Annual Ticker: UBL

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

United Bank Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Minutes of Previous Meeting For For

For For Accept Financial Statements and Statutory Reports

2

For For Approve Final Cash Dividend 3

For For Approve A.F. Ferguson and Co. as Auditors and Authorize Board to Fix Their Remuneration

4

For For Reelect Mohammed Anwar Pervez as Director 5.1

For For Reelect Zameer M. Choudrey as Director 5.2

For For Reelect Arshad Ahmad Mir as Director 5.3

For For Reelect Haider Zameer Choudrey as Director 5.4

For For Reelect Rizwan Pervez as Director 5.5

For For Reelect Khalid Ahmed Sherwani as Director 5.6

For For Reelect Amar Zafar Khan as Director 5.7

For For Reelect Tariq Rashid as Director 5.8

For For Approve Remuneration Policy 6

For For Approve Remuneration of Directors for Attending Board and Sub Committees Meetings

7

For For Approve Winding up of United Executors and Trustees Company Limited (UET), Subsidiary Company

8

Against For Other Business 9

Voter Rationale: Other business not disclosed.

Blended Rationale: Other business not disclosed.

VIEWORKS Co., Ltd. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 100120

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

VIEWORKS Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Appropriation of Income 2

For For Amend Articles of Incorporation 3

For For Elect Kim Hoo-sik as Inside Director 4.1

For For Elect Seo Gyeong-yeol as Inside Director 4.2

For For Elect Lim Jae-hui as Inside Director 4.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

Woori Financial Group, Inc. Meeting Date: 03/25/2020 Country: South Korea

Meeting Type: Annual Ticker: 316140

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Cheom Moon-ak as Outside Director 3.1

For For Elect Kim Hong-tae as Non-Independent Non-Executive Director

3.2

For For Elect Lee Won-deok as Inside Director 3.3

Against For Elect Son Tae-seung as Inside Director 3.4

Voter Rationale: Concerns about regulatory sanctions as well as the apparent lack of internal control and board oversight

Blended Rationale: Concerns about regulatory sanctions as well as the apparent lack of internal control and board oversight

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Yamaha Motor Co., Ltd. Meeting Date: 03/25/2020 Country: Japan

Meeting Type: Annual Ticker: 7272

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Yamaha Motor Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 45

For For

For For Elect Director Yanagi, Hiroyuki 2.1

For For Elect Director Hidaka, Yoshihiro 2.2

For For Elect Director Watanabe, Katsuaki 2.3

For For Elect Director Kato, Toshizumi 2.4

For For Elect Director Yamaji, Katsuhito 2.5

For For Elect Director Shimamoto, Makoto 2.6

For For Elect Director Okawa, Tatsumi 2.7

For For Elect Director Nakata, Takuya 2.8

For For Elect Director Kamigama, Takehiro 2.9

For For Elect Director Tashiro, Yuko 2.10

For For Elect Director Ohashi, Tetsuji 2.11

For For Appoint Alternate Statutory Auditor Kawai, Eriko 3

ABB Ltd. Meeting Date: 03/26/2020 Country: Switzerland

Meeting Type: Annual Ticker: ABBN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

Against For Approve Remuneration Report (Non-Binding) 2

Voter Rationale: Pay for performance misalignment.

Blended Rationale: Pay for performance misalignment.

For For Approve Discharge of Board and Senior Management

3

For For Approve Allocation of Income and Dividends of CHF 0.80 per Share

4

For For Amend Articles Re: Annual Report 5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

ABB Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Remuneration of Directors in the Amount of CHF 4.7 Million

6.1

For For Approve Remuneration of Executive Committee in the Amount of CHF 39.5 Million

6.2

For For Reelect Matti Alahuhta as Director 7.1

For For Reelect Gunnar Brock as Director 7.2

For For Reelect David Constable as Director 7.3

For For Reelect Frederico Curado as Director 7.4

For For Reelect Lars Foerberg as Director 7.5

For For Reelect Jennifer Xin-Zhe Li as Director 7.6

For For Reelect Geraldine Matchett as Director 7.7

For For Reelect David Meline as Director 7.8

For For Reelect Satish Pai as Director 7.9

For For Reelect Jacob Wallenberg as Director 7.10

For For Reelect Peter Voser as Director and Board Chairman

7.11

For For Appoint David Constable as Member of the Compensation Committee

8.1

For For Appoint Frederico Curado as Member of the Compensation Committee

8.2

For For Appoint Jennifer Xin-Zhe Li as Member of the Compensation Committee

8.3

For For Designate Hans Zehnder as Independent Proxy 9

For For Ratify KPMG AG as Auditors 10

Against For Transact Other Business (Voting) 11

Voter Rationale: Other business not disclosed.

Blended Rationale: Other business not disclosed.

ABB Ltd. Meeting Date: 03/26/2020 Country: Switzerland

Meeting Type: Annual Ticker: ABBN

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

ABB Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Share Re-registration Consent For For

Arvind Fashions Limited Meeting Date: 03/26/2020 Country: India

Meeting Type: Special Ticker: 542484

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Sale/Transfer of Wholesale Trading Business in "Flying Machine" Brand on a Slump Sale Basis to Arvind Youth Brands Private Limited

For For

Banco de Chile SA Meeting Date: 03/26/2020 Country: Chile

Meeting Type: Annual Ticker: CHILE

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

a Approve Financial Statements and Statutory Reports

For For

For For Approve Allocation of Income and Dividends of CLP 3.47 Per Share

b

For For Elect Directors c

For For Approve Remuneration of Directors d

For For Approve Remuneration and Budget of Directors and Audit Committee

e

For For Appoint Auditors f

For For Designate Risk Assessment Companies g

For For Present Directors and Audit Committee's Report h

For For Receive Report Regarding Related-Party Transactions

i

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Banco de Chile SA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Other Business j

Voter Rationale: Other business not disclosed.

Blended Rationale: Other business not disclosed.

Barclays Bank Plc Meeting Date: 03/26/2020 Country: United Kingdom

Meeting Type: Bondholder Ticker: N/A

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Extraordinary Resolution as per Meeting Notice

For For

Bekaert SA Meeting Date: 03/26/2020 Country: Belgium

Meeting Type: Special Ticker: BEKB

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Amend Articles of Association For For

For For Amend Article 4 Re: Corporate Purpose 2

Against For Authorize Repurchase of Up to 20 Percent of Issued Share Capital

3

Voter Rationale: Repurchase amount exceeds 10%

Blended Rationale: Repurchase amount exceeds 10%

Against For Authorize Board to Repurchase Shares in the Event of a Serious and Imminent Harm

4

Voter Rationale: Can be used for anti-takeover purposes

Blended Rationale: Can be used for anti-takeover purposes

Against For Authorize Reissuance of Repurchased Shares 5

Voter Rationale: Repurchase amount exceeds 10%

Blended Rationale: Repurchase amount exceeds 10%

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Bekaert SA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Authorize Board to Issue Shares in the Event of a Public Tender Offer or Share Exchange Offer

6

Voter Rationale: Can be used for anti-takeover purposes

Blended Rationale: Can be used for anti-takeover purposes

Against For Renew Authorization to Increase Share Capital within the Framework of Authorized Capital

7

Voter Rationale: Excessive dilution concerns

Blended Rationale: Excessive dilution concerns

Against For Authorize Board to Issue Shares in the Event of a Public Tender Offer or Share Exchange Offer and Renew Authorization to Increase Share Capital within the Framework of Authorized Capital

8

Voter Rationale: Can be used for anti-takeover purposes

Blended Rationale: Can be used for anti-takeover purposes

Canon Electronics, Inc. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 7739

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 40

For For

For For Elect Director Sakamaki, Hisashi 2.1

For For Elect Director Hashimoto, Takeshi 2.2

For For Elect Director Ishizuka, Takumi 2.3

For For Elect Director Arai, Tadashi 2.4

For For Elect Director Yaomin Zhou 2.5

For For Elect Director Uchiyama, Takeshi 2.6

For For Elect Director Takahashi, Junichi 2.7

For For Elect Director Uetake, Toshio 2.8

For For Elect Director Teshigahara, Takayuki 2.9

For For Elect Director Toyoda, Masakazu 2.10

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Canon Electronics, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Utsumi, Katsuhiko 2.11

For For Elect Director Togari, Toshikazu 2.12

For For Appoint Deloitte Touche Tohmatsu LLC as New External Audit Firm

3

For For Approve Annual Bonus 4

China Everbright Bank Company Limited Meeting Date: 03/26/2020 Country: China

Meeting Type: Special Ticker: 6818

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Li Yinquan as Director For For

For For Approve Adjustment to the Remuneration Standard of Independent Non-Executive Directors

2

For For Approve Adjustment to the Remuneration Standard of External Supervisors

3

For For Amend Articles of Association 1.1

For For Amend Rules and Procedures Regarding General Meetings of Shareholders

1.2

Against For Amend Rules and Procedures Regarding Meetings of Board of Directors

1.3

Voter Rationale: The proposed bylaw amendments are not considered to adequately provide for accountability and transparency.

Blended Rationale: The proposed bylaw amendments are not considered to adequately provide for accountability and transparency.

For For Amend Rules and Procedures Regarding Meetings of Board of Supervisors

1.4

DB HiTek Co., Ltd. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 000990

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

DB HiTek Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Choi Chang-sik as Inside Director 3.1

For For Elect Choi Hong-geon as Outside Director 3.2

For For Elect Oh Gyu-won as Outside Director 3.3

For For Elect Choi Hong-geon as a Member of Audit Committee

4.1

For For Elect Oh Gyu-won as a Member of Audit Committee

4.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

DGB Financial Group Co., Ltd. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 139130

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kwon Hyeok-se as Outside Director 2.1

For For Elect Lee Dam as Outside Director 2.2

For For Elect Lee Seong-dong as Outside Director 2.3

For For Elect Lee Dam as a Member of Audit Committee 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

DIC Corp. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 4631

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

DIC Corp.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 40

For For

For For Elect Director Nakanishi, Yoshiyuki 2.1

For For Elect Director Ino, Kaoru 2.2

For For Elect Director Saito, Masayuki 2.3

For For Elect Director Kawamura, Yoshihisa 2.4

For For Elect Director Tamaki, Toshifumi 2.5

For For Elect Director Tsukahara, Kazuo 2.6

For For Elect Director Tamura, Yoshiaki 2.7

For For Elect Director Shoji, Kuniko 2.8

For For Appoint Statutory Auditor Ikushima, Akihiro 3

DY POWER Corp. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 210540

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect One Inside Director and One Outside Director (Bundled)

2

For For Appoint Lee Sang-sik as Internal Auditor 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

For For Approve Terms of Retirement Pay 6

EDP Renovaveis SA Meeting Date: 03/26/2020 Country: Spain

Meeting Type: Annual Ticker: EDPR

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

EDP Renovaveis SA

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Consolidated and Standalone Financial Statements

For For

For For Approve Treatment of Net Loss 2

For For Approve Dividends 3

For For Approve Consolidated and Standalone Management Reports, and Corporate Governance Report

4

For For Approve Non-Financial Information Statement 5

For For Appraise Management of Company and Approve Vote of Confidence to Board of Directors and Executive Committee

6

Against For Ratify Appointment of and Elect Rui Manuel Rodrigues Lopes Teixeira as Director

7

Voter Rationale: Lack of gender diversity on the board. Company does not meet legal requirement.

Blended Rationale: Lack of gender diversity on the board. Company does not meet legal requirement.

For For Authorize Share Repurchase Program 8

Against For Authorize Issuance of Non-Convertible and/or Convertible Bonds, Debentures, Warrants, and Other Debt Securities without Preemptive Rights up to EUR 300 Million

9

Voter Rationale: Excessive.

Blended Rationale: Excessive.

Against For Approve Remuneration Policy 10

Voter Rationale: Plan is not appropriately long-term aligned.

Blended Rationale: Plan is not appropriately long-term aligned.

For For Authorize Board to Ratify and Execute Approved Resolutions

11

Ege Endustri ve Ticaret AS Meeting Date: 03/26/2020 Country: Turkey

Meeting Type: Annual Ticker: EGEEN

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Ege Endustri ve Ticaret AS

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Open Meeting and Elect Presiding Council of Meeting

For For

For For Accept Board Report 2

For For Accept Audit Reports 3

For For Accept Financial Statements 4

For For Approve Discharge of Board 5

For For Approve Allocation of Income 6

Against For Receive Information on Donations Made in 2019 and Approve Upper Limit of Donations for 2020

8

Voter Rationale: Lack of disclosure

Blended Rationale: Lack of disclosure

For For Elect Directors 9

For For Ratify External Auditors 10

For For Authorize Board to Distribute Advance Dividends 13

For For Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose

14

Findlay Park Funds Plc - American Fund Meeting Date: 03/26/2020 Country: Ireland

Meeting Type: Special Ticker: JCM53D.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

A Approve Changes to the Constitution of the Company

For For

For For Approve Change to the Investment Objective of the Supplement in respect of the Sub-Fund

B

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Frontier Real Estate Investment Corp. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Special Ticker: 8964

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Amend Articles to Amend Audit Fee Payment Schedule

For For

For For Elect Executive Director Iwado, Takao 2

For For Elect Supervisory Director Suzuki, Toshio 3.1

For For Elect Supervisory Director Iida, Koji 3.2

For For Elect Supervisory Director Suzuki, Noriko 3.3

For For Elect Alternate Executive Director Kanai, Jun 4.1

For For Elect Alternate Executive Director Nakamura, Hideki

4.2

Genmab A/S Meeting Date: 03/26/2020 Country: Denmark

Meeting Type: Annual Ticker: GMAB

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Accept Financial Statements and Statutory Reports; Approve Discharge of Management and Board

For For

For For Approve Allocation of Income and Omission of Dividends

3

For For Reelect Deirdre P. Connelly as Director 4a

For For Reelect Pernille Erenbjerg as Director 4b

For For Reelect Rolf Hoffmann as Director 4c

For For Reelect Paolo Paoletti as Director 4d

For For Reelect Anders Gersel Pedersen as Director 4e

Abstain For Elect Jonathan Peacock as New Director 4f

Voter Rationale: Overboarding concerns

Blended Rationale: Overboarding concerns

For For Ratify PricewaterhouseCoopers as Auditors 5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Genmab A/S Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Approve Guidelines for Incentive-Based Compensation for Executive Management and Board

6a

Voter Rationale: Lack of disclosure around the specific performance metrics used in the annual bonus and LTIP as well as excessive termination payments

Blended Rationale: Lack of disclosure around the specific performance metrics used in the annual bonus and LTIP as well as excessive termination payments

Against For Approve Remuneration of Directors in the Amount of DKK 1.2 Million for Chairman, DKK 800,000 for Vice Chairman, and DKK 400,000 for Other Directors; Approve Remuneration for Committee Work; Approve Meeting Fees

6b

Voter Rationale: Excessive fees

Blended Rationale: Excessive fees

For For Amend Articles Re: Editorial Changes due to Merger of VP Securities A/S and VP Services A/S

6c

For For Authorize Editorial Changes to Adopted Resolutions in Connection with Registration with Danish Authorities

7

Grand Korea Leisure Co., Ltd. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 114090

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Against For Approve Total Remuneration of Inside Directors and Outside Directors

2

Voter Rationale: s lack of reasonable justification for proposed increase in remuneration limit

Blended Rationale: s lack of reasonable justification for proposed increase in remuneration limit

Against For Authorize Board to Fix Remuneration of Internal Auditor(s)

3

Voter Rationale: Lack of reasonable justification for proposed increase

Blended Rationale: Lack of reasonable justification for proposed increase

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

JAC Recruitment Co., Ltd. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 2124

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 80

For For

For For Elect Director Matsuzono, Takeshi 2.1

For For Elect Director Hattori, Hiro 2.2

For For Elect Director Tazaki, Hiromi 2.3

For For Elect Director Tazaki, Tadayoshi 2.4

For For Elect Director Yamada, Hiroki 2.5

For For Elect Director Togo, Shigeoki 2.6

For For Elect Director Kase, Yutaka 2.7

For For Elect Director Gunter Zorn 2.8

For For Appoint Alternate Statutory Auditor Iwasaki, Masataka

3

JB Financial Group Co., Ltd. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 175330

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Jeong Jae-sik as Outside Director 3.1

For For Elect Kim Woo-jin as Outside Director 3.2

For For Elect Park Jong-il as Outside Director 3.3

For For Elect Yoo Kwan-woo as a Member of Audit Committee

4.1

For For Elect Park Jong-il as a Member of Audit Committee

4.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

KEPCO Plant Service & Engineering Co., Ltd. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 051600

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

Against For Approve Total Remuneration of Inside Directors and Outside Directors

3

Voter Rationale: increase in limit without reasonable justification.

Blended Rationale: increase in limit without reasonable justification.

Against For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Voter Rationale: lack of reasonable justification for proposed increase.

Blended Rationale: lack of reasonable justification for proposed increase.

KTB Investment & Securities Co., Ltd. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 030210

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements For For

For For Approve Appropriation of Income 2

For For Amend Articles of Incorporation 3

For For Elect Lee Hyeon-ju as Outside Director 4

For For Elect Lee Hyeon-ju as a Member of Audit Committee

5

For For Approve Total Remuneration of Inside Directors and Outside Directors Who Are Not Members of Audit Committee

6

For For Approve Total Remuneration of Inside Directors and Outside Directors Who Are Members of Audit Committee

7

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

LG Electronics, Inc. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 066570

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect two Inside Directors and one Outside Director (Bundled)

3

For For Elect Baek Yong-ho as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Financial Statements and Allocation of Income

1

For For Amend Articles of Incorporation 2

For For Elect two Inside Directors and one Outside Director (Bundled)

3

For For Elect Baek Yong-ho as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Livzon Pharmaceutical Group Inc. Meeting Date: 03/26/2020 Country: China

Meeting Type: Special Ticker: 1513

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1A Approve Purpose of the Share Repurchase For For

For For Approve Price Range of Shares to be Repurchased

1B

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Livzon Pharmaceutical Group Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Type, Number and Percentage of Shares to be Repurchased

1C

For For Approve Aggregate Amount of Funds Used for the Repurchase and the Source of Funds

1D

For For Approve Share Repurchase Period 1E

For For Approve Validity Period of the Resolution on the Share Repurchase

1F

For For Authorize Board to Deal with All Matters in Relation to the Share Repurchase

1G

Livzon Pharmaceutical Group Inc. Meeting Date: 03/26/2020 Country: China

Meeting Type: Special Ticker: 1513

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1A Approve Purpose of the Share Repurchase For For

For For Approve Price Range of Shares to be Repurchased

1B

For For Approve Type, Number and Percentage of Shares to be Repurchased

1C

For For Approve Aggregate Amount of Funds Used for the Repurchase and the Source of Funds

1D

For For Approve Share Repurchase Period 1E

For For Approve Validity Period of the Resolution on the Share Repurchase

1F

For For Authorize Board to Deal with All Matters in Relation to the Share Repurchase

1G

Livzon Pharmaceutical Group Inc. Meeting Date: 03/26/2020 Country: China

Meeting Type: Special Ticker: 1513

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Approve Purpose of the Share Repurchase For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Livzon Pharmaceutical Group Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Price Range of Shares to be Repurchased

1.2

For For Approve Type, Number and Percentage of Shares to be Repurchased

1.3

For For Approve Aggregate Amount of Funds Used for the Repurchase and the Source of Funds

1.4

For For Approve Share Repurchase Period 1.5

For For Approve Validity Period of the Resolution on the Share Repurchase

1.6

For For Authorize Board to Deal with All Matters in Relation to the Share Repurchase

1.7

Livzon Pharmaceutical Group Inc. Meeting Date: 03/26/2020 Country: China

Meeting Type: Special Ticker: 1513

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Approve Purpose of the Share Repurchase For For

For For Approve Price Range of Shares to be Repurchased

1.2

For For Approve Type, Number and Percentage of Shares to be Repurchased

1.3

For For Approve Aggregate Amount of Funds Used for the Repurchase and the Source of Funds

1.4

For For Approve Share Repurchase Period 1.5

For For Approve Validity Period of the Resolution on the Share Repurchase

1.6

For For Authorize Board to Deal with All Matters in Relation to the Share Repurchase

1.7

LOTTE Reit Co., Ltd. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 330590

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

LOTTE Reit Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements For For

For For Approve Appropriation of Income 2

For For Approve Business Plan 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Amend Articles of Incorporation 5

MonotaRO Co., Ltd. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 3064

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 7.5

For For

For For Elect Director Seto, Kinya 2.1

For For Elect Director Suzuki, Masaya 2.2

For For Elect Director Yamagata, Yasuo 2.3

For For Elect Director Kitamura, Haruo 2.4

For For Elect Director Kishida, Masahiro 2.5

For For Elect Director Ise, Tomoko 2.6

For For Elect Director Sagiya, Mari 2.7

For For Elect Director Barry Greenhouse 2.8

Nichirin Co., Ltd. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 5184

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Nichirin Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 30

For For

For For Amend Articles to Make Technical Changes 2

For For Appoint Statutory Auditor Tezuka, Toshio 3.1

For For Appoint Statutory Auditor Morikawa, Ryoichi 3.2

For For Appoint Statutory Auditor Ueda, Kiyokazu 3.3

For For Appoint Alternate Statutory Auditor Murazumi, Shinichi

4

Noritz Corp. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 5943

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 16

For For

Against For Elect Director Kokui, Soichiro 2.1

Blended Rationale: Top management is responsible for the company's unfavorable ROE performance.

For For Elect Director Haramaki, Satoshi 2.2

For For Elect Director Hirosawa, Masamine 2.3

For For Elect Director Takenaka, Masayuki 2.4

For For Elect Director Hirooka, Kazushi 2.5

For For Elect Director Takahashi, Hideaki 2.6

Novo Nordisk A/S Meeting Date: 03/26/2020 Country: Denmark

Meeting Type: Annual Ticker: NOVO.B

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Novo Nordisk A/S

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Accept Financial Statements and Statutory Reports

For For

For For Approve Remuneration of Directors for 2019 in the Aggregate Amount of DKK 19.4 Million

3.2a

For For Approve Remuneration of Directors for 2020 in the Amount of DKK 2.2 Million for the Chairman, DKK 1.4 Million for the Vice Chairman, and DKK 720,000 for Other Directors; Approve Remuneration for Committee Work

3.2b

For For Approve Guidelines for Incentive-Based Compensation for Executive Management and Board

3.3

For For Amend Articles Re: Voting on the Company's Remuneration Report at Annual General Meetings

3.4

For For Approve Allocation of Income and Dividends 4

For For Reelect Helge Lund as Director and Chairman 5.1

For For Reelect Jeppe Christiansen as Director and Deputy Chairman

5.2

For For Reelect Brian Daniels as Director 5.3a

For For Reelect Laurence Debroux as Director 5.3b

For For Reelect Andreas Fibig as Director 5.3c

For For Reelect Sylvie Gregoire as Director 5.3d

For For Reelect Liz Hewitt as Director 5.3e

For For Reelect Kasim Kutay as Director 5.3f

For For Reelect Martin Mackay as Director 5.3g

For For Ratify PricewaterhouseCoopers as Auditors 6

For For Approve DKK 10 Million Reduction in Share Capital via B Share Cancellation

7.1

For For Authorize Share Repurchase Program 7.2

Against For Approve Creation of Pool of Capital for the Benefit of Employees

7.3a

Voter Rationale: Shares are offered at a market discount.

Blended Rationale: Shares are offered at a market discount.

For For Approve Creation of Pool of Capital with Preemptive Rights

7.3b

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Novo Nordisk A/S Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Creation of Pool of Capital without Preemptive Rights

7.3c

For For Approve Donation to the World Diabetes Foundation

7.4

Against Against Disclosure of the Ratio between Executive and Employee Remuneration in theAnnual Reports

8

Okura Industrial Co., Ltd. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 4221

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 55

For For

For For Amend Articles to Amend Business Lines - Clarify Director Authority on Shareholder Meetings - Amend Provisions on Director Titles - Clarify Director Authority on Board Meetings

2

For For Elect Director Takahama, Kazunori 3.1

For For Elect Director Kanda, Susumu 3.2

For For Elect Director Tanaka, Yoshitomo 3.3

For For Elect Director Uehara, Hideki 3.4

For For Elect Director Yamada, Kazuhiro 3.5

For For Elect Director Ueta, Tomo 3.6

Against For Elect Director and Audit Committee Member Sakurai, Shigeki

4.1

Blended Rationale: A vote AGAINST this director nominee is warranted because:- This outside director candidate who will be an audit committee member lacks independence.

For For Elect Director and Audit Committee Member Baba, Toshio

4.2

Against For Elect Director and Audit Committee Member Kitada, Takashi

4.3

Blended Rationale: A vote AGAINST this director nominee is warranted because:- This outside director candidate who will be an audit committee member lacks independence.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Okura Industrial Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Elect Director and Audit Committee Member Horiuchi, Shinji

4.4

Blended Rationale: A vote AGAINST this director nominee is warranted because:- This outside director candidate who will be an audit committee member lacks independence.

For For Approve Restricted Stock Plan 5

Scandinavian Tobacco Group A/S Meeting Date: 03/26/2020 Country: Denmark

Meeting Type: Annual Ticker: STG

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Accept Financial Statements and Statutory Reports

For For

For For Approve Allocation of Income and Dividends of DKK 6.10 Per Share

3

For For Approve Remuneration of Directors in the Amount of DKK 1.2 Million for Chairman, DKK 800,000 for Vice Chairman, and DKK 400,000 for Other Directors; Approve Remuneration for Committee Work

4

For For Reelect Nigel Northridge as Director (Chairman) 5a

For For Reelect Henrik Brandt as Director (Vice Chair) 5b

For For Reelect Dianne Neal Blixt as Director 5c

For For Reelect Luc Missorten as Director 5d

For For Reelect Anders Obel as Director 5e

For For Reelect Marlene Forsell as Director 5f

For For Reelect Claus Gregersen as Director 5g

For For Ratify PricewaterhouseCoopers as Auditors 6

Against For Approve Creation of DKK 10 Million Pool of Capital without Preemptive Rights

7a

Voter Rationale: The stock that could be issued without pre-emptive rights exceeds 10% of outstanding capital.

Blended Rationale: The stock that could be issued without pre-emptive rights exceeds 10% of outstanding capital.

Against For Authorize Share Repurchase Program 7b

Voter Rationale: Volume not disclosed.

Blended Rationale: Volume not disclosed.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Scandinavian Tobacco Group A/S Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Amend Articles Re: Change of Standard Agenda for Annual General Meeting

7c

For For Approve Guidelines for Incentive-Based Compensation for Executive Management and Board

7d

Schroder Alt. Sol. - Agriculture Fund Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: S0YCZZ.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner, Richard Mountford and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PriceWaterhouseCoopers as Auditor

9

Schroder Alt. Sol. - Commodity Fund Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: MM0YXP.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Dividends 4

For For Approve Discharge of Directors 5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Alt. Sol. - Commodity Fund Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner, Richard Mountford and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PriceWaterhouseCoopers as Auditor

9

Schroder Gaia - Cat Bond Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: L6FDQT.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PriceWaterhouseCoopers as Auditor

9

Schroder Gaia - Contour Tech Equity Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: KCGBPP.F

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Gaia - Contour Tech Equity

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PriceWaterhouseCoopers as Auditor

9

Schroder Gaia - Sirios Us Equity Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: PB9CXW.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PriceWaterhouseCoopers as Auditor

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Gaia - Two Sigma Diversified Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: FYY872.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PriceWaterhouseCoopers as Auditor

9

Schroder Gaia - Wellington Pagosa Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: WNC5Z1.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PriceWaterhouseCoopers as Auditor

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Mp - Amort. Glb. Multi-credit Cf. Fd. (2019-2025) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: N/A

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Schroder Mp - Bespoke Investment Fund 1 Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: N/A

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Mp - Buy & Maintain Credit (gbp) Cashflow Over 2032 Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: N/A

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Schroder Mp - Buy & Maintain Credit (gbp) Cf. Fund (2018-2032) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: N/A

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Mp - Index-linked Ldi Swap Fund (2018-2027) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: QM4MLX.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Schroder Mp - Index-linked Ldi Swap Fund (2028-2037) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: Q8Q6SD.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Mp - Index-linked Ldi Swap Fund (2038-2047) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: BBXSF7.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Schroder Mp - Index-linked Ldi Swap Fund (2048-2057) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: QB6FYS.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Mp - Index-linked Ldi Swap Fund (2058-2077) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: N/A

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Schroder Mp - Inflation Only (2018-2027) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: N/A

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Mp - Nominal Ldi Swap Fund (2018-2027) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: BR8KGG.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Schroder Mp - Nominal Ldi Swap Fund (2028-2037) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: BLW5BG.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Mp - Nominal Ldi Swap Fund (2038-2047) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: PS5H09.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Schroder Mp - Nominal Ldi Swap Fund (2048-2057) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: V44M30.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Mp - Nominal Ldi Swap Fund (2058-2077) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: N/A

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Schroder Mp - Syn. Index Linked Gilt Fund 2018-2027 Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: NH2JDT.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Mp - Syn. Index Linked Gilt Fund 2028-2037 Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: DH9CQ7.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Schroder Mp - Synthetic Index Linked Gilt Fund 2038-2057 Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: JKZTRK.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Mp - Synthetic Index Linked Gilt Fund 2058-2077 Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: NGH2W4.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Schroder Mp - Synthetic Nominal Gilt Fund 2018-2037 Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: F2GJSR.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Mp - Synthetic Nominal Gilt Fund 2038-2057 Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: HDB7NJ.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Schroder Mp - Synthetic Nominal Gilt Fund 2058-2077 Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: TSZGHQ.F

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Schroder Mp - Volatility Controlled Global Equity Fund Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: N/A

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Seohan Co., Ltd. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 011370

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Against For Amend Articles of Incorporation 2

Voter Rationale: excessive issuance and dilution risks

Blended Rationale: excessive issuance and dilution risks

For For Approve the provision of compensation for damages due to personal information infringement

3

For For Elect Ahn Moon-tae as Outside Director 4

For For Appoint Jeong Dal-hwa as Internal Auditor 5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Seohan Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Approve Total Remuneration of Inside Directors and Outside Directors

6

Voter Rationale: increase in limit without reasonable justification.

Blended Rationale: increase in limit without reasonable justification.

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

Shimano, Inc. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 7309

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 77.5

For For

Against For Elect Director Shimano, Yozo 2.1

Voter Rationale: Lack of board gender diversity.

Blended Rationale: Lack of board gender diversity.

For For Elect Director Shimano, Taizo 2.2

For For Elect Director Toyoshima, Takashi 2.3

For For Elect Director Tsuzaki, Masahiro 2.4

For For Elect Director Tarutani, Kiyoshi 2.5

For For Elect Director Matsui, Hiroshi 2.6

For For Elect Director Otake, Masahiro 2.7

For For Elect Director Kiyotani, Kinji 2.8

For For Elect Director Kanai, Takuma 2.9

For For Appoint Statutory Auditor Hirata, Yoshihiro 3

For For Appoint Alternate Statutory Auditor Kondo, Yukihiro

4

Shinhan Financial Group Co., Ltd. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 055550

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Shinhan Financial Group Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Cho Yong-byoung as Inside Director 3.1

For For Elect Philippe Avril as Non-Independent Non-Executive Director

3.2

For For Elect Park An-soon as Outside Director 3.3

For For Elect Park Cheul as Outside Director 3.4

For For Elect Yoon Jae-won as Outside Director 3.5

For For Elect Jin Hyun-duk as Outside Director 3.6

For For Elect Choi Kyong-rok as Outside Director 3.7

For For Elect as Yuki Hirakawa Outside Director 3.8

For For Elect Yoon Jae-won as a Member of Audit Committee

4.1

For For Elect Lee Yoon-jae as a Member of Audit Committee

4.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Showa Denko K.K. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 4004

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 80

For For

For For Amend Articles to Clarify Director Authority on Shareholder Meetings - Amend Provisions on Director Titles

2

For For Elect Director Morikawa, Kohei 3.1

For For Elect Director Takahashi, Hidehito 3.2

For For Elect Director Takeuchi, Motohiro 3.3

For For Elect Director Ichikawa, Hideo 3.4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Showa Denko K.K. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Sakai, Hiroshi 3.5

For For Elect Director Oshima, Masaharu 3.6

For For Elect Director Nishioka, Kiyoshi 3.7

For For Elect Director Isshiki, Kozo 3.8

For For Elect Director Morikawa, Noriko 3.9

For For Appoint Statutory Auditor Tanaka, Jun 4.1

For For Appoint Statutory Auditor Saito, Kiyomi 4.2

For For Appoint Statutory Auditor Yajima, Masako 4.3

SK Innovation Co., Ltd. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 096770

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Kim Jun as Inside Director 3.1

For For Elect Yu Jeong-jun as Non-Independent Non-Executive Director

3.2

For For Elect Kim Jong-hoon as Outside Director 3.3

For For Elect Kim Jong-hoon as a Member of Audit Committee

4

For For Approve Terms of Retirement Pay 5

For For Approve Stock Option Grants 6

For For Approve Total Remuneration of Inside Directors and Outside Directors

7

SK Telecom Co., Ltd. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 017670

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

SK Telecom Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Approve Stock Option Grants 3.1

For For Approve Stock Option Grants 3.2

For For Elect Park Jung-ho as Inside Director 4.1

For For Elect Cho Dae-sik as Non-Independent Non-Executive Director

4.2

For For Elect Kim Yong-hak as Outside Director 4.3

For For Elect Kim Jun-mo as Outside Director 4.4

For For Elect Ahn Jeong-ho as Outside Director 4.5

For For Elect Kim Yong-hak as a Member of Audit Committee

5.1

For For Elect Ahn Jeong-ho as a Member of Audit Committee

5.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

6

For For Approve Terms of Retirement Pay 7

SKF AB Meeting Date: 03/26/2020 Country: Sweden

Meeting Type: Annual Ticker: SKF.B

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Elect Chairman of Meeting For For

For For Prepare and Approve List of Shareholders 3

For For Approve Agenda of Meeting 4

For For Designate Inspector(s) of Minutes of Meeting 5

For For Acknowledge Proper Convening of Meeting 6

For For Accept Financial Statements and Statutory Reports

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

SKF AB Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Allocation of Income and Dividends of SEK 6.25 Per Share

10

For For Approve Discharge of Board and President 11

For For Determine Number of Members (9) and Deputy Members (0) of Board

12

For For Approve Remuneration of Directors in the Amount of SEK 2.2 Million for Chairman and SEK 760,000 for Other Directors; Approve Remuneration for Committee Work

13

For For Reelect Hans Straberg as Director 14.1

For For Reelect Hock Goh as Director 14.2

For For Reelect Alrik Danielson as Director 14.3

For For Reelect Ronnie Leten as Director 14.4

For For Reelect Barb Samardzich as Director 14.5

For For Reelect Colleen Repplier as Director 14.6

For For Reelect Geert Follens as Director 14.7

For For Elect Hakan Buskhe as New Director 14.8

For For Elect Susanna Schneeberger as New Director 14.9

For For Elect Hans Straberg as Board Chairman 15

For For Approve Remuneration Policy And Other Terms of Employment For Executive Management

16

Against For Approve 2020 Performance Share Program 17

Voter Rationale: Lack of disclosure around performance targets so unable to accurately assess pay for performance alignment.

Blended Rationale: Lack of disclosure around performance targets so unable to accurately assess pay for performance alignment.

For For Authorize Chairman of Board and Representatives of Four of Company's Largest Shareholders to Serve on Nominating Committee

18

Spigen Korea Co., Ltd. Meeting Date: 03/26/2020 Country: South Korea

Meeting Type: Annual Ticker: 192440

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Spigen Korea Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Bae Jeong-hwan as Outside Director 3

For For Elect Bae Jeong-hwan as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

SUMCO Corp. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 3436

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Hashimoto, Mayuki For For

For For Elect Director Takii, Michiharu 1.2

For For Elect Director Furuya, Hisashi 1.3

For For Elect Director Hiramoto, Kazuo 1.4

For For Elect Director Kato, Akane 1.5

For For Elect Director and Audit Committee Member Yoshikawa, Hiroshi

2.1

For For Elect Director and Audit Committee Member Fujii, Atsuro

2.2

For For Elect Director and Audit Committee Member Tanaka, Hitoshi

2.3

For For Elect Director and Audit Committee Member Mitomi, Masahiro

2.4

For For Elect Director and Audit Committee Member Ota, Shinichiro

2.5

For For Elect Director and Audit Committee Member Fuwa, Akio

2.6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Sumitomo Rubber Industries, Ltd. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 5110

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 30

For For

For For Elect Director Ikeda, Ikuji 2.1

For For Elect Director Yamamoto, Satoru 2.2

For For Elect Director Nishi, Minoru 2.3

For For Elect Director Kinameri, Kazuo 2.4

For For Elect Director Ii, Yasutaka 2.5

For For Elect Director Ishida, Hiroki 2.6

For For Elect Director Kuroda, Yutaka 2.7

For For Elect Director Harada, Naofumi 2.8

For For Elect Director Tanigawa, Mitsuteru 2.9

For For Elect Director Kosaka, Keizo 2.10

For For Elect Director Murakami, Kenji 2.11

For For Elect Director Kobayashi, Nobuyuki 2.12

For For Appoint Statutory Auditor Murata, Morihiro 3.1

For For Appoint Statutory Auditor Yasuhara, Hirofumi 3.2

Synthetic Index Linked Gilt Fund (2048-2057) Meeting Date: 03/26/2020 Country: Luxembourg

Meeting Type: Annual Ticker: N/A

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Approve Financial Statements and Allocation of Income

For For

For For Approve Allocation of Income and Dividends 4

For For Approve Discharge of Directors 5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Synthetic Index Linked Gilt Fund (2048-2057) Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Re-elect Ines Carla Bergareche Garcia-Minaur, Eric Bertrand, Mike Champion, Marie-Jeanne Chevremont-Lorenzini, Bernard Herman, Achim Kuessner and Neil Walton as Directors

6

For For Elect Hugh Mullan as Director 7

For For Approve Remuneration of Directors 8

For For Renew Appointment of PricewaterhouseCoopers as Auditor

9

Tekfen Holding AS Meeting Date: 03/26/2020 Country: Turkey

Meeting Type: Annual Ticker: TKFEN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Open Meeting and Elect Presiding Council of Meeting

For For

For For Accept Board Report 2

For For Accept Financial Statements and Audit Report 3

For For Approve Discharge of Board 4

For For Approve Allocation of Income 5

For For Approve Director Remuneration 6

Against For Elect Directors 7

Voter Rationale: Lack of disclosure around candidates' details so unable to make an informed decision.

Blended Rationale: Lack of disclosure around candidates' details so unable to make an informed decision.

For For Ratify External Auditors 8

For For Approve Upper Limit of Donations for 2020 and Receive Information on Donations Made in 2019

10

For For Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose

11

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Torii Pharmaceutical Co., Ltd. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 4551

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 24

For Against

Blended Rationale: Vote Against anything below average dividend pay-out ratio

For For Elect Director Fukuoka, Toshio 2

For For Appoint Statutory Auditor Yamamoto, Ken 3.1

For For Appoint Statutory Auditor Izumo, Eiichi 3.2

For For Elect Alternate Director Kondo, Nobumasa 4

For For Appoint Alternate Statutory Auditor Hayashi, Nobuaki

5

Toyo Ink SC Holdings Co., Ltd. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 4634

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 45

For For

For For Elect Director Kitagawa, Katsumi 2.1

For For Elect Director Aoyama, Hiroya 2.2

For For Elect Director Takashima, Satoru 2.3

For For Elect Director Hamada, Hiroyuki 2.4

For For Elect Director Nakano, Kazuhito 2.5

For For Elect Director Amari, Kimito 2.6

For For Elect Director Kimura, Keiko 2.7

For For Elect Director Sakai, Kunizo 2.8

For For Elect Director Hirakawa, Toshiaki 2.9

For For Elect Director Ide, Kazuhiko 2.10

For For Elect Director Kaneko, Shingo 2.11

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Trend Micro, Inc. Meeting Date: 03/26/2020 Country: Japan

Meeting Type: Annual Ticker: 4704

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 160

For For

Aekyung Petrochemical Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 161000

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Appoint Lee Mun-il as Internal Auditor 2

For For Approve Stock Option Grants 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

AGC, Inc. (Japan) Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 5201

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 60

For For

For For Elect Director Ishimura, Kazuhiko 2.1

For For Elect Director Shimamura, Takuya 2.2

For For Elect Director Hirai, Yoshinori 2.3

For For Elect Director Miyaji, Shinji 2.4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

AGC, Inc. (Japan) Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Hasegawa, Yasuchika 2.5

For For Elect Director Yanagi, Hiroyuki 2.6

For For Elect Director Honda, Keiko 2.7

AK Holdings, Inc. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 006840

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements For For

For For Approve Appropriation of Income 2

For For Approve Stock Option Grants 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

BH Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 090460

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Appoint Wang Gi-hyeon as Internal Auditor 2

Against For Approve Total Remuneration of Inside Directors and Outside Directors

3

Voter Rationale: The level of the directors' remuneration cap is excessive compared to that of the market norm, and the company has not provided any reasonable justification for the excessive remuneration limit.

Blended Rationale: The level of the directors' remuneration cap is excessive compared to that of the market norm, and the company has not provided any reasonable justification for the excessive remuneration limit.

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Canon, Inc. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 7751

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 80

For For

For For Elect Director Mitarai, Fujio 2.1

For For Elect Director Maeda, Masaya 2.2

For For Elect Director Tanaka, Toshizo 2.3

For For Elect Director Homma, Toshio 2.4

For For Elect Director Saida, Kunitaro 2.5

For For Elect Director Kato, Haruhiko 2.6

For For Appoint Statutory Auditor Ebinuma, Ryuichi 3

For For Appoint Deloitte Touche Tohmatsu LLC as New External Audit Firm

4

For For Approve Annual Bonus 5

Celltrion, Inc. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 068270

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Gi Woo-seong as Inside Director 2.1

For For Elect Shin Min-cheol as Inside Director 2.2

For For Elect Lee Hyeok-jae as Inside Director 2.3

For For Elect Kim Geun-young as Outside Director 2.4

For For Elect Kim Won-seok as Outside Director 2.5

For For Elect Yoo Dae-hyeon as Outside Director 2.6

For For Elect Lee Soon-woo as Outside Director 2.7

For For Elect Lee Jae-sik as Outside Director 2.8

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Celltrion, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Kim Geun-young as a Member of Audit Committee

3.1

For For Elect Kim Won-seok as a Member of Audit Committee

3.2

For For Elect Yoo Dae-hyeon as a Member of Audit Committee

3.3

For For Elect Lee Soon-woo as a Member of Audit Committee

3.4

For For Elect Lee Jae-sik as a Member of Audit Committee

3.5

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Approve Terms of Retirement Pay 5

For For Approve Stock Option Grants 6

CJ ENM Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 035760

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Lim Gyeong-muk as Inside Director 3.1

Against For Elect Choi Joong-kyung as Outside Director 3.2

Voter Rationale: concern about material failure of governance and oversight.

Blended Rationale: concern about material failure of governance and oversight.

For For Elect Han Sang-dae as Outside Director 3.3

Against For Elect Choi Joong-kyung as a Member of Audit Committee

4.1

Voter Rationale: concern about material failure of governance and oversight.

Blended Rationale: concern about material failure of governance and oversight.

For For Elect Han Sang-dae as a Member of Audit Committee

4.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

CJ ENM Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Spin-Off Agreement 6

Concentradora Fibra Danhos SA de CV Meeting Date: 03/27/2020 Country: Mexico

Meeting Type: Annual Ticker: DANHOS13

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Open Meeting For For

For For Approve Financial Statements 2

For For Elect or Ratify Members of Trust Technical Committee

3

For For Approve Real Estate Trust Certificates Repurchase Program; Set Maximum Amount of Share Repurchase

4

For For Amend Article 25 and Appendix J of Trust Agreement Re: Fiscal Domicile and Trustee Compensation

5

For For Authorize Board to Ratify and Execute Approved Resolutions

6

Cowell Fashion Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 033290

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Lim Jong-min as Inside Director 2.1

For For Elect Choi Chang-su as Outside Director 2.2

For For Appoint Lee Tae-young as Internal Auditor 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Cowell Fashion Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

Credicorp Ltd. Meeting Date: 03/27/2020 Country: Bermuda

Meeting Type: Annual Ticker: BAP

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

2 Approve Audited Consolidated Financial Statements of Credicorp and its Subsidiaries for FY 2019, Including External Auditors' Report

For For

For For Elect Antonio Abruna Puyol as Director 3.1

For For Elect Maite Aranzabal Harreguy as Director 3.2

For For Elect Fernando Fort Marie as Director 3.3

For For Elect Alexandre Gouvea as Director 3.4

For For Elect Patricia Silvia Lizarraga Guthertz as Director

3.5

For For Elect Raimundo Morales Dasso as Director 3.6

For For Elect Luis Enrique Romero Belismelis as Director 3.7

For For Elect Dionisio Romero Paoletti as Director 3.8

For For Approve Remuneration of Directors 4

For For Amend Article 2.6 Re: Transfer of Shares 5.1

For For Amend Article 3.4.2 Re: Mechanisms for Appointment of Proxy

5.2

For For Amend Article 4.11 Re: Increase in Number of Directors

5.3

For For Amend Article 4.12 Re: Notice of Board Meetings

5.4

For For Amend Article 4.13 Re: Participation of Directors in Board Meetings

5.5

For For Amend Article 4.18.1 Re: Quorum for Transaction of Business at Board Meetings

5.6

For For Ratify PricewaterhouseCoopers as Auditor and Authorize Board to Fix Their Remuneration

6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Credicorp Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Audited Consolidated Financial Statements of Credicorp and its Subsidiaries for FY 2019, Including External Auditors' Report

2

For For Elect Antonio Abruna Puyol as Director 3.1

For For Elect Maite Aranzabal Harreguy as Director 3.2

For For Elect Fernando Fort Marie as Director 3.3

For For Elect Alexandre Gouvea as Director 3.4

For For Elect Patricia Silvia Lizarraga Guthertz as Director

3.5

For For Elect Raimundo Morales Dasso as Director 3.6

For For Elect Luis Enrique Romero Belismelis as Director 3.7

For For Elect Dionisio Romero Paoletti as Director 3.8

For For Approve Remuneration of Directors 4

For For Amend Article 2.6 Re: Transfer of Shares 5.1

For For Amend Article 3.4.2 Re: Mechanisms for Appointment of Proxy

5.2

For For Amend Article 4.11 Re: Increase in Number of Directors

5.3

For For Amend Article 4.12 Re: Notice of Board Meetings

5.4

For For Amend Article 4.13 Re: Participation of Directors in Board Meetings

5.5

For For Amend Article 4.18.1 Re: Quorum for Transaction of Business at Board Meetings

5.6

For For Ratify PricewaterhouseCoopers as Auditor and Authorize Board to Fix Their Remuneration

6

CS HOLDINGS Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 000590

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

CS HOLDINGS Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Two Inside Directors and Three Outside Directors (Bundled)

2

For For Elect Three Outside Directors as a Member of Audit Committee (Bundled)

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Daeduck Electronics Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 008060

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Spin-Off Agreement For For

For For Approve Financial Statements and Allocation of Income

2

For For Elect Jang Hong-eun as Inside Director 3.1

For For Elect Kim Ji-ho as Inside Director 3.2

For For Appoint Son Hyeon-gon as Internal Auditor 4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

Daelim Industrial Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 000210

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Daelim Industrial Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Lee Chung-hun as Outside Director 3

For For Elect Lee Chung-hun as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Approve Spin-Off Agreement 6

Dogan Sirketler Grubu Holding AS Meeting Date: 03/27/2020 Country: Turkey

Meeting Type: Annual Ticker: DOHOL

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Open Meeting and Elect Presiding Council of Meeting

For For

For For Authorize Presiding Council to Sign Minutes of Meeting

2

For For Accept Board Report 3

For For Accept Audit Report 4

For For Accept Financial Statements 5

For For Approve Discharge of Board 6

For For Approve Allocation of Income 7

Against For Elect Directors 8

Voter Rationale: Lack of disclosure around the candidates' details so unable to make an informed decision.

Blended Rationale: Lack of disclosure around the candidates' details so unable to make an informed decision.

Against For Approve Director Remuneration 10

Voter Rationale: Lack of disclosure so unable to make an informed decision.

Blended Rationale: Lack of disclosure so unable to make an informed decision.

For For Approve Upper Limit of Donations for 2020 11

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Dogan Sirketler Grubu Holding AS Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Ratify External Auditors 12

Against For Authorize Issuance of Bonds 13

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

For For Authorize Board to Distribute Advance Dividends 14

For For Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose

15

DONGWON DEVELOPMENT Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 013120

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Jang Ho-ik as Inside Director 2.1

For For Elect Lee Seong-hwi as Inside Director 2.2

Against For Approve Total Remuneration of Inside Directors and Outside Directors

3

Voter Rationale: increase in limit without reasonable justification.

Blended Rationale: increase in limit without reasonable justification.

DTR Automotive Corp. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 007340

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

DTR Automotive Corp. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Amend Articles of Incorporation (Introduction of Interim Dividend)

2

For For Elect Three Inside Directors and One Outside Director (Bundled)

3

For For Appoint Park Jae-hwan as Internal Auditor 4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Against For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

Voter Rationale: lack of reasonable justification for proposed increase.

Blended Rationale: lack of reasonable justification for proposed increase.

Ecopetrol SA Meeting Date: 03/27/2020 Country: Colombia

Meeting Type: Annual Ticker: ECOPETROL

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

4 Approve Meeting Agenda For For

Against For Amend Regulations on General Meetings 5

Voter Rationale: bundled resolution.

Blended Rationale: bundled resolution.

For For Elect Chairman of Meeting 6

For For Appoint Committee in Charge of Scrutinizing Elections and Polling

7

For For Elect Meeting Approval Committee 8

For For Approve Management Reports 13

For For Approve Individual and Consolidated Financial Statements

14

For For Approve Allocation of Income 15

For For Amend Bylaws 16

Enka Insaat ve Sanayi AS Meeting Date: 03/27/2020 Country: Turkey

Meeting Type: Annual Ticker: ENKAI

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Enka Insaat ve Sanayi AS

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Presiding Council of Meeting and Authorize Presiding Council to Sign Meeting Minutes

For For

For For Accept Board Report 2

For For Accept Audit Report 3

For For Accept Financial Statements 5

For For Approve Discharge of Board 6

For For Elect Directors 7

For For Approve Director Remuneration 8

For For Ratify External Auditors 9

For For Approve Allocation of Income 10

For For Authorize Board to Distribute Advance Dividends 12

For For Approve Advance Dividend Payment for 2020 13

For For Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose

15

GS Engineering & Construction Corp. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 006360

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Huh Chang-soo as Inside Director 3.1

For For Elect Heo Jin-su as Non-Independent Non-Executive Director

3.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

GS Holdings Corp. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 078930

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Two Inside Directors, One Non-Independent Non-Executive Director and One Outside Director (Bundled)

2

For For Elect Yang Seung-woo as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Hankook Technology Group Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 000240

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

Hankook Tire & Technology Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 161390

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation (Business Objectives)

2.1

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Hankook Tire & Technology Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Amend Articles of Incorporation (Company Address Change)

2.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

Hugel, Inc. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 145020

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Zhu Jia as Non-Independent Non-Executive Director

2.1

For For Elect Jeffrey Schwartz as Non-Independent Non-Executive Director

2.2

For For Elect Lee Jeong-woo as Non-Independent Non-Executive Director

2.3

For For Elect Ryu Jae-wook as Outside Director 2.4

For For Elect Lee Jeong-woo as a Member of Audit Committee

3.1

For For Elect Ryu Jae-wook as a Member of Audit Committee

3.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Approve Stock Option Grants 5

ICD Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 040910

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

ICD Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Kim Myeong-ho as Inside Director 2.1

For For Elect Lee Jong-hwan as Outside Director 2.2

For For Appoint Lim Seung-taek as Internal Auditor 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

Interconexion Electrica SA ESP Meeting Date: 03/27/2020 Country: Colombia

Meeting Type: Annual Ticker: ISA

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Chairman of Meeting For For

For For Elect Meeting Approval Committee 3

For For Approve Management Report 5

For For Approve Individual and Consolidated Financial Statements

8

For For Approve Allocation of Income and Dividends 9

For For Approve Auditors and Authorize Board to Fix Their Remuneration

10

Against For Elect Directors 11

Voter Rationale: Lack of disclosure

Blended Rationale: Lack of disclosure

For For Approve Remuneration Policy 12

For For Approve Remuneration of Directors 13

Intops Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 049070

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Intops Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Jae-gyeong as Inside Director 2.1

For For Elect Jang Jang-yi as Outside Director 2.2

For For Elect Kim Ho-seong as Outside Director 2.3

For For Appoint Lee Gyeong-ryeol as Internal Auditor 3.1

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

JW Holdings Corp. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 096760

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Choi Ji-woo as Inside Director 3.1

For For Elect Oh Gu-taek as Outside Director 3.2

For For Elect Yeom Chan-yeop as Outside Director 3.3

For For Elect Park Seong-woo as a Member of Audit Committee

4.1

For For Elect Oh Gu-taek as a Member of Audit Committee

4.2

For For Elect Yeom Chan-yeop as a Member of Audit Committee

4.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

KCC Corp. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 002380

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Han Mu-geun as Outside Director For For

For For Elect Jang Seong-wan as Outside Director 1.2

For For Elect Yoon Seok-hwa as Outside Director 1.3

For For Elect Jang Seong-wan as a Member of Audit Committee

2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

KGINICIS Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 035600

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Gwak Jae-seon as Inside Director 3.1

For For Elect Gwak Jeong-hyeon as Inside Director 3.2

For For Elect Yoo Seung-yong as Inside Director 3.3

For For Elect Park In-gyu as Outside Director 3.4

For For Appoint Oh Gwan-hu as Internal Auditor 4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

Kirin Holdings Co., Ltd. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 2503

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Kirin Holdings Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 32.5

For For

For For Elect Director Isozaki, Yoshinori 2.1

For For Elect Director Nishimura, Keisuke 2.2

For For Elect Director Miyoshi, Toshiya 2.3

For For Elect Director Yokota, Noriya 2.4

For For Elect Director Kobayashi, Noriaki 2.5

For For Elect Director Arakawa, Shoshi 2.6

For For Elect Director Mori, Masakatsu 2.7

For For Elect Director Yanagi, Hiroyuki 2.8

For For Elect Director Matsuda, Chieko 2.9

For For Elect Director Shiono, Noriko 2.10

For For Elect Director Rod Eddington 2.11

For For Elect Director George Olcott 2.12

For For Appoint Statutory Auditor Kashima, Kaoru 3

Against For Approve Trust-Type Equity Compensation Plan and Phantom Stock Plan

4

Voter Rationale: The shareholder proposal in Item 7 should better align the interests of executive directors with those of shareholders.

Blended Rationale: The shareholder proposal in Item 7 should better align the interests of executive directors with those of shareholders.

For For Approve Compensation Ceiling for Directors 5

Against Against Initiate Share Repurchase Program 6

For Against Approve Restricted Stock Plan 7

Voter Rationale: Plan offers alignment between shareholders and executive directors, and more disclosure.

Blended Rationale: Plan offers alignment between shareholders and executive directors, and more disclosure.

Against Against Reduce Cash Compensation Celling for Directors to JPY 600 Million per Year

8

Against Against Elect Shareholder Director Nominee Nicholas E Benes

9.1

Against Against Elect Shareholder Director Nominee Kikuchi, Kanako

9.2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

KMW, Inc. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 032500

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Choi Chang-won as Inside Director 2.1

For For Elect Baek Seung-gon as Outside Director 2.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

Against For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Voter Rationale: lack of reasonable rationale

Blended Rationale: lack of reasonable rationale

KOKUYO CO., LTD. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 7984

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 20.5

For For

For For Amend Articles to Remove Provisions on Takeover Defense

2

For For Elect Director Kuroda, Hidekuni 3.1

For For Elect Director Morikawa, Takuya 3.2

For For Elect Director Miyagaki, Nobuyuki 3.3

For For Elect Director Sakagami, Kozo 3.4

For For Elect Director Hamada, Hiroshi 3.5

For For Elect Director Fujiwara, Taketsugu 3.6

For For Elect Director Masuyama, Mika 3.7

For For Appoint Statutory Auditor Toyoshi, Yoko 4

For For Appoint Alternate Statutory Auditor Takahashi, Akito

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Kolmar Korea Holdings Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 024720

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Amend Articles of Incorporation For For

For For Approve Financial Statements and Allocation of Income

2

For For Elect Kim Byeong-muk as Inside Director 3.1

For For Elect Yoon Sang-hyeon as Inside Director 3.2

For For Elect Jeong Gang-jin as Inside Director 3.3

For For Elect Oh Se-in as Outside Director 3.4

For For Appoint Shin Jeong-sik as Internal Auditor 4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

For For Approve Terms of Retirement Pay 7

KoMiCo Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 183300

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Approve Total Remuneration of Inside Directors and Outside Directors

2

Against For Authorize Board to Fix Remuneration of Internal Auditor(s)

3

Voter Rationale: not provided a reasonable justification for the proposed increase.

Blended Rationale: not provided a reasonable justification for the proposed increase.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Korea Electric Power Corp. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 015760

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Approve Total Remuneration of Inside Directors and Outside Directors

2

For For Amend Articles of Incorporation 3

Korean Air Lines Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 003490

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation (Chairman of the Board)

2.1

For For Amend Articles of Incorporation (Director Election)

2.2

For For Amend Articles of Incorporation (Method of Public Notice)

2.3

Against For Elect Woo Gi-hong as Inside Director 3.1

Voter Rationale: concerns about accountability due to continued inaction in removing a director deemed to have sufficient evidence of egregious governance concerns from the board.

Blended Rationale: concerns about accountability due to continued inaction in removing a director deemed to have sufficient evidence of egregious governance concerns from the board.

Against For Elect Lee Su-geun as Inside Director 3.2

Voter Rationale: concerns about accountability due to continued inaction in removing a director deemed to have sufficient evidence of egregious governance concerns from the board.

Blended Rationale: concerns about accountability due to continued inaction in removing a director deemed to have sufficient evidence of egregious governance concerns from the board.

For For Elect Jeong Gap-young as Outside Director 3.3

For For Elect Cho Myeong-hyeon as Outside Director 3.4

For For Elect Park Hyeon-ju as Outside Director 3.5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Korean Air Lines Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Park Hyeon-ju as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

LEENO INDUSTRIAL, Inc. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 058470

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Choi Yong-gi as Inside Director 3.1

For For Elect Jeong Byeong-jun as Inside Director 3.2

For For Appoint Jeon Seok-jong as Internal Auditor 4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

LF Corp. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 093050

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Yang Jae-taek as Outside Director 2

For For Elect Yang Jae-taek as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

LG Corp. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 003550

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kwon Young-soo as Inside Director 2.1

For For Elect Cho Seong-wook as Outside Director 2.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

LMS Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 073110

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Kim Young-il as Inside Director 3.1

For For Elect Hahm Su-yong as Outside Director 3.2

For For Elect Yoo Ji-beom as Outside Director 3.3

For For Elect Lee Woo-young as Outside Director 3.4

For For Elect Hahm Su-yong as a Member of Audit Committee

4.1

For For Elect Yoo Ji-beom as a Member of Audit Committee

4.2

For For Elect Lee Woo-young as a Member of Audit Committee

4.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

McDonald's Holdings Co. (Japan) Ltd. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 2702

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 33

For For

For For Elect Director Sarah L. Casanova 2.1

For For Elect Director Arosha Yijemuni 2.2

For For Elect Director Ueda, Masataka 2.3

For For Appoint Statutory Auditor Ishii, Takaaki 3.1

For For Appoint Statutory Auditor Tashiro, Yuko 3.2

For For Appoint Statutory Auditor Honda, Yoshiyuki 3.3

Against For Appoint Statutory Auditor Ellen Caya 3.4

Blended Rationale: The outside statutory auditor nominee's affiliation with the company could compromise independence.

Medy-Tox, Inc. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 086900

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Approve Stock Option Grants 2

For For Elect Jeong Hyeon-ho as Inside Director 3.1

For For Elect Ju Hui-seok as Inside Director 3.2

For For Elect Yoo Dong-hyeon as Outside Director 3.3

For For Appoint Cheon Young-ik as Internal Auditor 4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Mytilineos SA Meeting Date: 03/27/2020 Country: Greece

Meeting Type: Special Ticker: MYTIL

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Authorize Share Repurchase Program For For

Nakanishi Inc. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 7716

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 16

For For

Against For Elect Director Nakanishi, Eiichi 2.1

Voter Rationale: Lack of board gender diversity.

Blended Rationale: Lack of board gender diversity.

For For Elect Director Nakanishi, Kensuke 2.2

For For Elect Director Suzuki, Masataka 2.3

For For Elect Director Nonagase, Yuji 2.4

For For Elect Director Suzuki, Fusato 2.5

For For Appoint Statutory Auditor Maki, Yoshihiro 3

NAVER Corp. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 035420

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

NAVER Corp. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Han Seong-sook as Inside Director 3

For For Elect Byeon Dae-gyu as Non-Independent Non-Executive Director

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Approve Stock Option Grants 6

For For Approve Stock Option Grants 7

Nippon Carbon Co., Ltd. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 5302

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 100

For For

For For Elect Director Motohashi, Yoshiji 2.1

For For Elect Director Miyashita, Takafumi 2.2

For For Elect Director Takahashi, Akito 2.3

For For Elect Director Kato, Takeo 2.4

For For Appoint Statutory Auditor Araki, Shigeru 3.1

For For Appoint Statutory Auditor Miyazaki, Atsushi 3.2

For For Appoint Alternate Statutory Auditor Konishi, Yuji 4

Against For Approve Takeover Defense Plan (Poison Pill) 5

Voter Rationale: Concerns regarding Poison Pill.

Blended Rationale: Concerns regarding Poison Pill.

Nippon Electric Glass Co., Ltd. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 5214

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Nippon Electric Glass Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 50

For For

Against For Elect Director Arioka, Masayuki 2.1

Voter Rationale: Top management responsible for unfavourable ROE performance.

Blended Rationale: Top management responsible for unfavourable ROE performance.

Against For Elect Director Matsumoto, Motoharu 2.2

Voter Rationale: Top management responsible for unfavourable ROE performance.

Blended Rationale: Top management responsible for unfavourable ROE performance.

For For Elect Director Takeuchi, Hirokazu 2.3

For For Elect Director Saeki, Akihisa 2.4

For For Elect Director Tsuda, Koichi 2.5

For For Elect Director Yamazaki, Hiroki 2.6

For For Elect Director Mori, Shuichi 2.7

For For Elect Director Urade, Reiko 2.8

For For Elect Director Ito, Hiroyuki 2.9

For For Appoint Alternate Statutory Auditor Watanabe, Toru

3

OTSUKA CORP. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 4768

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 110

For For

For For Appoint Statutory Auditor Nakai, Kazuhiko 2.1

For For Appoint Statutory Auditor Hada, Etsuo 2.2

For For Appoint Statutory Auditor Minagawa, Katsumasa 2.3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Otsuka Holdings Co., Ltd. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 4578

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Otsuka, Ichiro For For

For For Elect Director Higuchi, Tatsuo 1.2

For For Elect Director Matsuo, Yoshiro 1.3

For For Elect Director Makino, Yuko 1.4

For For Elect Director Takagi, Shuichi 1.5

For For Elect Director Tobe, Sadanobu 1.6

For For Elect Director Kobayashi, Masayuki 1.7

For For Elect Director Tojo, Noriko 1.8

For For Elect Director Inoue, Makoto 1.9

For For Elect Director Matsutani, Yukio 1.10

For For Elect Director Sekiguchi, Ko 1.11

For For Elect Director Aoki, Yoshihisa 1.12

For For Elect Director Mita, Mayo 1.13

Oyo Corp. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 9755

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 16

For For

For For Elect Director Narita, Masaru 2.1

For For Elect Director Hirashima, Yuichi 2.2

For For Elect Director Shigenobu, Jun 2.3

For For Elect Director Sato, Kenji 2.4

For For Elect Director Amano, Hirofumi 2.5

For For Elect Director Nakagawa, Wataru 2.6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Oyo Corp. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Nakamura, Kaoru 2.7

For For Elect Director Ota, Michihiko 2.8

For For Elect Director Osaki, Shoji 2.9

For For Appoint Alternate Statutory Auditor Matsushita, Tatsuro

3.1

For For Appoint Alternate Statutory Auditor Ito, Hisashi 3.2

Peptidream Inc. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 4587

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Kubota, Kiichi For For

For For Elect Director Patrick C. Reid 1.2

For For Elect Director Masuya, Keiichi 1.3

For For Elect Director Kaneshiro, Kiyofumi 1.4

For For Elect Alternate Director and Audit Committee Member Utsunomiya, Junko

2

Pigeon Corp. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 7956

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 35

For For

For For Amend Articles to Amend Provisions on Number of Directors - Indemnify Directors - Indemnify Statutory Auditors

2

For For Elect Director Nakata, Yoichi 3.1

For For Elect Director Yamashita, Shigeru 3.2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Pigeon Corp. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Kitazawa, Norimasa 3.3

For For Elect Director Akamatsu, Eiji 3.4

For For Elect Director Itakura, Tadashi 3.5

For For Elect Director Kurachi, Yasunori 3.6

For For Elect Director Kevin Vyse-Peacock 3.7

For For Elect Director Nitta, Takayuki 3.8

For For Elect Director Hatoyama, Rehito 3.9

For For Elect Director Okada, Erika 3.10

For For Elect Director Hayashi, Chiaki 3.11

For For Elect Director Yamaguchi, Eriko 3.12

For For Appoint Statutory Auditor Matsunaga, Tsutomu 4

Pilot Corp. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 7846

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Ito, Shu For For

For For Elect Director Watanabe, Hiromoto 1.2

For For Elect Director Horiguchi, Yasuo 1.3

For For Elect Director Shirakawa, Masakazu 1.4

For For Elect Director Kimura, Tsutomu 1.5

For For Elect Director Tanaka, Sanae 1.6

For For Elect Director Masuda, Shinzo 1.7

For For Elect Director Muramatsu, Masanobu 1.8

For For Appoint Statutory Auditor Soramoto, Naoki 2.1

For For Appoint Statutory Auditor Saimura, Yoshihiro 2.2

For For Appoint Statutory Auditor Itasawa, Sachio 2.3

For For Appoint Statutory Auditor Kamiyama, Toshizo 2.4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Pilot Corp. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Compensation Ceilings for Directors and Statutory Auditors

3

Against For Approve Takeover Defense Plan (Poison Pill) 4

Blended Rationale: A vote AGAINST this poison pill plan is warranted because:- The total duration exceeds three years.- The company's proxy circular release timing leaves insufficient time to study the pill.

POSCO Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 005490

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Chang In-hwa as Inside Director 2.1

For For Elect Chon Jung-son as Inside Director 2.2

For For Elect Kim Hak-dong as Inside Director 2.3

For For Elect Jeong Tak as Inside Director 2.4

For For Elect Chang Seung-wha as Outside Director 3

For For Elect Park Heui-jae as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

PSK Holdings, Inc. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 031980

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Approve Total Remuneration of Inside Directors and Outside Directors

2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

PSK Holdings, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

3

PSK, Inc. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 319660

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Ryobi Ltd. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 5851

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 35

For For

For For Elect Director Ooka, Satoshi 2.1

For For Elect Director Suzuki, Takashi 2.2

For For Elect Director Mochizuki, Tatsuyoshi 2.3

For For Appoint Statutory Auditor Arai, Yoichi 3

For For Appoint Alternate Statutory Auditor Shigezaki, Takashi

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Sammok S-Form Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 018310

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Eom Seok-ho as Inside Director 3.1

For For Elect Yoo Sang-hyeon as Outside Director 3.2

For For Elect Yoo Sang-hyeon as a Member of Audit Committee

4

For For Approve Terms of Retirement Pay 5

For For Approve Total Remuneration of Inside Directors and Outside Directors

6

Samwha Capacitor Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 001820

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Park Jin as Inside Director 2.1

For For Elect Kim Jeong-su as Inside Director 2.2

For For Elect Yoon Jung-rak as Inside Director 2.3

For For Elect Kim Cheol-su as Inside Director 2.4

For For Elect Park Su-geun as Outside Director 2.5

Against For Approve Total Remuneration of Inside Directors and Outside Directors

3

Voter Rationale: proposed increase in remuneration limit without reasonable justification.

Blended Rationale: proposed increase in remuneration limit without reasonable justification.

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

SEBANG Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 004360

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Four Inside Directors and Three Outside Directors (Bundled)

3

For For Elect Three Members of Audit Committee (Bundled)

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Seohee Construction Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 035890

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Lee Bong-gwan as Inside Director 2.1

For For Elect Kwak Seon-gi as Inside Director 2.2

For For Elect Lee Eun-hui as Inside Director 2.3

For For Elect Lee Seong-hui as Inside Director 2.4

For For Elect Lee Doh-hui as Inside Director 2.5

For For Elect Lim Soon-ock as Outside Director 2.6

For For Elect Cho Byeong-chun as Outside Director 2.7

For For Elect Yeo Young-bae as Outside Director 2.8

For For Appoint Kim Tae-dol as Internal Auditor 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

SFA Engineering Corp. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 056190

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Young-min as Inside Director 2.1

For For Elect Lee Myeong-jae as Inside Director 2.2

For For Elect Jeong Chan-seon as Inside Director 2.3

For For Elect Jang Soon-nam as Outside Director 2.4

For For Elect Cho In-hoe as Outside Director 2.5

For For Elect Jeong Song as Outside Director 2.6

For For Elect Jang Soon-nam as a Member of Audit Committee

3.1

For For Elect Cho In-hoe as a Member of Audit Committee

3.2

For For Elect Jeong Song as a Member of Audit Committee

3.3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Amend Articles of Incorporation 5

Shindaeyang Paper Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 016590

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Three Inside Directors (Bundled) 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

SIIX Corp. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 7613

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 14

For For

Against For Elect Director Murai, Shiro 2.1

Voter Rationale: Lack of board gender diversity.

Blended Rationale: Lack of board gender diversity.

For For Elect Director Yanase, Koji 2.2

For For Elect Director Ono, Seiji 2.3

For For Elect Director Maruyama, Toru 2.4

For For Elect Director Fujita, Tatsuo 2.5

For For Elect Director Takatani, Shinsuke 2.6

For For Elect Director Omori, Susumu 2.7

For For Appoint Alternate Statutory Auditor Kawai, Takanori

3.1

For For Appoint Alternate Statutory Auditor Yoshizawa, Nao

3.2

Skylark Holdings Co., Ltd. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 3197

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Tani, Makoto For For

For For Elect Director Kanaya, Minoru 1.2

For For Elect Director Sakita, Haruyoshi 1.3

For For Elect Director Okawara, Toshiaki 1.4

For For Elect Director Nishijo, Atsushi 1.5

For For Elect Director Tahara, Fumio 1.6

For For Elect Director Sano, Ayako 1.7

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

St. Modwen Properties Plc Meeting Date: 03/27/2020 Country: United Kingdom

Meeting Type: Annual Ticker: SMP

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Approve Remuneration Report 2

For For Approve Remuneration Policy 3

For For Approve Final Dividend 4

For For Re-elect Mark Allan as Director 5

For For Re-elect Ian Bull as Director 6

For For Re-elect Simon Clarke as Director 7

For For Re-elect Danuta Gray as Director 8

For For Re-elect Jenefer Greenwood as Director 9

For For Re-elect Jamie Hopkins as Director 10

For For Re-elect Rob Hudson as Director 11

For For Elect Sarah Whitney as Director 12

For For Reappoint KPMG LLP as Auditors 13

For For Authorise the Audit Committee to Fix Remuneration of Auditors

14

For For Authorise Issue of Equity 15

For For Authorise Issue of Equity without Pre-emptive Rights

16

For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or Other Capital Investment

17

For For Authorise Market Purchase of Ordinary Shares 18

For For Authorise the Company to Call General Meeting with Two Weeks' Notice

19

For For Adopt New Articles of Association 20

Suntory Beverage & Food Ltd. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 2587

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Suntory Beverage & Food Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 39

For For

For For Amend Articles to Change Location of Head Office

2

For For Elect Director Kogo, Saburo 3.1

For For Elect Director Saito, Kazuhiro 3.2

For For Elect Director Yamazaki, Yuji 3.3

For For Elect Director Kimura, Josuke 3.4

For For Elect Director Torii, Nobuhiro 3.5

For For Elect Director Inoue, Yukari 3.6

For For Elect Director and Audit Committee Member Chiji, Kozo

4

For For Elect Alternate Director and Audit Committee Member Amitani, Mitsuhiro

5

Taekwang Industrial Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 003240

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Hong Hyeon-min as Inside Director 2.1

For For Elect Kim Hyeong-saeng as Inside Director 2.2

For For Elect Kim Oh-young as Outside Director 2.3

For For Elect Kim Oh-young as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

The Yokohama Rubber Co., Ltd. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 5101

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 33

For For

For For Elect Director Yamaishi, Masataka 2.1

For For Elect Director Mikami, Osamu 2.2

For For Elect Director Noro, Masaki 2.3

For For Elect Director Matsuo, Gota 2.4

For For Elect Director Nakamura, Toru 2.5

For For Elect Director Nitin Mantri 2.6

For For Elect Director Okada, Hideichi 2.7

For For Elect Director Takenaka, Nobuo 2.8

For For Elect Director Kono, Hirokazu 2.9

For For Elect Director Yamane, Takashi 2.10

For For Elect Director Hori, Masatoshi 2.11

Toagosei Co., Ltd. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 4045

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 15

For For

For For Elect Director Takamura, Mikishi 2.1

For For Elect Director Ishikawa, Nobuhiro 2.2

For For Elect Director Suzuki, Yoshitaka 2.3

For For Elect Director Kenjo, Moriyuki 2.4

For For Elect Director Miho, Susumu 2.5

For For Elect Director Sugiura, Shinichi 2.6

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Toagosei Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Nakanishi, Satoru 2.7

For For Elect Director Koike, Yasuhiro 2.8

For For Elect Director Kitamura, Yasuo 2.9

For For Elect Director and Audit Committee Member Takano, Nobuhiko

3.1

For For Elect Director and Audit Committee Member Ito, Katsuyuki

3.2

For For Elect Director and Audit Committee Member Danno, Koichi

3.3

For For Approve Restricted Stock Plan 4

Tokai Carbon Co., Ltd. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 5301

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 24

For For

For For Elect Director Nagasaka, Hajime 2.1

For For Elect Director Serizawa, Yuji 2.2

For For Elect Director Tsuji, Masafumi 2.3

For For Elect Director Yamaguchi, Katsuyuki 2.4

For For Elect Director Yamamoto, Shunji 2.5

For For Elect Director Masuda, Hirofumi 2.6

For For Elect Director Kambayashi, Nobumitsu 2.7

For For Elect Director Tanahashi, Junichi 2.8

For For Appoint Statutory Auditor Kakehashi, Kazuyuki 3

For For Appoint Alternate Statutory Auditor Hiura, Motokazu

4

For For Approve Restricted Stock Plan 5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Toyo Tanso Co., Ltd. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 5310

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 50

For For

For For Elect Director Kondo, Naotaka 2.1

For For Elect Director Hiraga, Shunsaku 2.2

For For Elect Director Tsutsumi, Hiroki 2.3

For For Elect Director Hamada, Tatsuro 2.4

For For Elect Director Zhan GuoBin 2.5

For For Elect Director Iwamoto, Mune 2.6

For For Elect Director Yamagata, Yasuo 2.7

For For Elect Director Matsuo, Shusuke 2.8

For For Appoint Alternate Statutory Auditor Imai, Kazuhiro

3

V-Guard Industries Limited Meeting Date: 03/27/2020 Country: India

Meeting Type: Special Ticker: 532953

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Adopt New Articles of Association For For

Against For Approve Appointment and Remuneration of Kochouseph Chittilappilly as Chairman Emeritus

2

Voter Rationale: Pay for performance disconnect.

Blended Rationale: Pay for performance disconnect.

VISANG EDUCATION, Inc. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 100220

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

VISANG EDUCATION, Inc.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Two Inside Directors and One Outside Director (Bundled)

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

WiSoL Co., Ltd. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 122990

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Two Inside Directors (Bundled) 2

For For Appoint Lim Sang-mo as Internal Auditor 3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

For For Approve Stock Option Grants 6

WONIK HOLDINGS CO., LTD. Meeting Date: 03/27/2020 Country: South Korea

Meeting Type: Annual Ticker: 030530

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

WONIK HOLDINGS CO., LTD.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Lee Yong-han as Inside Director 3.1

For For Elect Ha Myeong-geun as Outside Director 3.2

For For Appoint Nam Sang-gwon as Internal Auditor 4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

6

Yamabiko Corp. Meeting Date: 03/27/2020 Country: Japan

Meeting Type: Annual Ticker: 6250

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Nagao, Yoshiaki For For

For For Elect Director Tasaki, Takanobu 1.2

For For Elect Director Kubo, Hiroshi 1.3

For For Elect Director Hayashi, Tomohiko 1.4

For For Elect Director Sawada, Toshiharu 1.5

For For Elect Director Yamashita, Tetsuo 1.6

For For Elect Director Sano, Koji 1.7

For For Appoint Statutory Auditor Komorida, Yasuharu 2.1

For For Appoint Statutory Auditor Takai, Tsukasa 2.2

For For Appoint Statutory Auditor Azuma, Noboru 2.3

For For Appoint Statutory Auditor Nogami, Yoshiyuki 2.4

For For Appoint Alternate Statutory Auditor Kaimori, Hiroshi

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Al Rajhi Bank Meeting Date: 03/29/2020 Country: Saudi Arabia

Meeting Type: Annual Ticker: 1120

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations for FY 2019

For For

For For Accept Financial Statements and Statutory Reports for FY 2019

2

For For Approve Auditors' Report on Company Financial Statements for FY 2019

3

For For Approve Discharge of Directors for FY 2019 4

For For Ratify Distributed Dividends of SAR 1.5 per Share for First Half of FY 2019

5

For For Approve Dividends of SAR 1.5 per Share for Second Half of FY 2019

6

For For Approve Interim Dividends Semi Annually or Quarterly for FY 2020

7

For For Ratify Auditors and Fix Their Remuneration for FY 2020

8

For For Approve Remuneration of Directors, Committees and Audit Committee members of SAR 6,140,000 for FY 2019

9

Against For Approve Related Party Transactions 10

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

For For Approve Related Party Transactions Re: Strategic Agreement with Saudi Telecom Company

11

For For Approve Related Party Transactions Re: POS Devices Connection Agreement with Saudi Telecom Company

12

For For Approve Related Party Transactions Re: Telecommunication Services Agreement with Saudi Telecom Company

13

For For Approve Related Party Transactions Re: SMS Services Agreement with Saudi Telecom Company

14

For For Approve Related Party Transactions Re: General Services Contract with Saudi Telecom Company

15

For For Approve Related Party Transactions Re: ATM Rental Contract with Saudi Telecom Company

16

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Al Rajhi Bank Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Related Party Transactions Re: ATM Rental Contract with Saudi Telecom Company

17

For For Approve Related Party Transactions Re: Direct Internet Services Contract with Arabian Internet and Communication Services Company

18

For For Approve Related Party Transactions Re: Providing, Installation and Maintenance Services Contract with Arabian Internet and Communication Services Company

19

For For Approve Related Party Transactions Re: Global Beverage Company

20

For For Approve Related Party Transactions Re: South Regional Office Rental Contract with Mohammed Abdulazeez Al Rajhi investment Company

21

For For Approve Related Party Transactions Re: Abha Sales Office Rental Contract with Mohammed Abdulazeez Al Rajhi investment Company

22

For For Approve Related Party Transactions Re: ATM Rental Contract with Mohammed Abdulazeez Al Rajhi investment Company

23

For For Approve Related Party Transactions Re: Fursan Travel and Tourism Company

24

For For Approve Related Party Transactions Re: Abdullah Al Rajhi

25

For For Approve Related Party Transactions Re: Insurance Renewal with Al Rajhi Company for Cooperative Insurance

26

For For Approve Related Party Transactions Re: Vehicles Insurance Renewal with Al Rajhi Company for Cooperative Insurance

27

AEDAS Homes SAU Meeting Date: 03/30/2020 Country: Spain

Meeting Type: Annual Ticker: AEDAS

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Consolidated and Standalone Financial Statements

For For

For For Approve Consolidated and Standalone Management Reports

2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

AEDAS Homes SAU Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Discharge of Board 3

For For Approve Allocation of Income 4

For For Amend Articles 5

For For Renew Appointment of Ernst & Young as Auditor

6

For For Authorize Share Repurchase Program 7

For For Authorize Company to Call EGM with 15 Days' Notice

8

For For Authorize Board to Ratify and Execute Approved Resolutions

9

For For Advisory Vote on Remuneration Report 10

Aston Martin Lagonda Global Holdings Plc Meeting Date: 03/30/2020 Country: United Kingdom

Meeting Type: Special Ticker: AML

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Authorise Issue of Equity in Connection with the Placing

For For

For For Authorise Issue of Equity without Pre-emptive Rights in Connection with the Placing

2

For For Authorise Issue of Equity in Connection with the Rights Issue

3

For For Authorise Issue of Equity without Pre-emptive Rights in Connection with the Rights Issue

4

BELIMO Holding AG Meeting Date: 03/30/2020 Country: Switzerland

Meeting Type: Annual Ticker: BEAN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

BELIMO Holding AG Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Allocation of Income and Dividends of CHF 150 per Share

2

For For Approve Remuneration Report (Non-Binding) 3

For For Approve Discharge of Board and Senior Management

4

For For Approve Fixed Remuneration of Directors in the Amount of CHF 950,000

5.1

For For Approve Fixed and Variable Remuneration of Executive Committee in the Amount of CHF 5.8 Million

5.2

For For Reelect Adrian Altenburger as Director 6.1.1

For For Reelect Patrick Burkhalter as Director 6.1.2

For For Reelect Sandra Emme as Director 6.1.3

For For Reelect Urban Linsi as Director 6.1.4

For For Reelect Martin Zwyssig as Director 6.1.5

For For Elect Stefan Ranstrand as Director 6.2.1

For For Reelect Patrick Burkhalter as Board Chairman 6.3.1

For For Reelect Martin Zwyssig as Deputy Chairman 6.3.2

For For Reappoint Adrian Altenburger as Member of the Compensation Committee

6.4.1

For For Reappoint Sandra Emme as Member of the Compensation Committee

6.4.2

For For Designate Proxy Voting Services GmbH as Independent Proxy

6.5

For For Ratify KPMG AG as Auditors 6.6

Against For Transact Other Business (Voting) 7

Voter Rationale: Other business not disclosed

Blended Rationale: Other business not disclosed

BELIMO Holding AG Meeting Date: 03/30/2020 Country: Switzerland

Meeting Type: Annual Ticker: BEAN

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Share Re-registration Consent For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Broadcom Inc. Meeting Date: 03/30/2020 Country: USA

Meeting Type: Annual Ticker: AVGO

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1a Elect Director Hock E. Tan For For

For For Elect Director Henry Samueli 1b

For For Elect Director Eddy W. Hartenstein 1c

For For Elect Director Diane M. Bryant 1d

For For Elect Director Gayla J. Delly 1e

For For Elect Director Raul J. Fernandez 1f

For For Elect Director Check Kian Low 1g

For For Elect Director Justine F. Page 1h

For For Elect Director Harry L. You 1i

For For Ratify PricewaterhouseCoopers LLP as Auditors 2

Against For Advisory Vote to Ratify Named Executive Officers' Compensation

3

Blended Rationale: A vote AGAINST this proposal is warranted. Concerns are raised regarding the multi-year equity grants to certain NEOs that are intended to equate to four years of annual equity awards. While the grants are half performance-based, they include multiple vesting opportunities and the goals are not particularly rigorous. Multi-year grants can limit the compensation committee's ability to adjust pay levels over the period.

Chacha Food Co., Ltd. Meeting Date: 03/30/2020 Country: China

Meeting Type: Special Ticker: 002557

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Employee Share Purchase Plan (Draft) and Summary

For For

For For Approve Authorization of the Board to Handle All Matters Related to Employee Share Purchase Plan

2

For For Approve Management System of Employee Share Purchase Plan

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Chongqing Zaisheng Technology Co., Ltd. Meeting Date: 03/30/2020 Country: China

Meeting Type: Special Ticker: 603601

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Company's Eligibility for Private Placement of Shares

For For

For For Approve Share Type and Par Value 2.1

For For Approve Issue Manner 2.2

For For Approve Target Subscribers and Subscription Method

2.3

For For Approve Issue Price and Pricing Principles 2.4

For For Approve Issue Size 2.5

For For Approve Use of Proceeds 2.6

For For Approve Lock-up Period Arrangement 2.7

For For Approve Listing Location 2.8

For For Approve Distribution Arrangement of Undistributed Earnings

2.9

For For Approve Resolution Validity Period 2.10

For For Approve Plan for Private Placement of New Shares

3

For For Approve Feasibility Analysis Report on the Use of Proceeds

4

For For Approve Report on the Usage of Previously Raised Funds

5

For For Approve Impact of Dilution of Current Returns on Major Financial Indicators and the Relevant Measures to be Taken

6

For For Approve Authorization of Board to Handle All Related Matters

7

Chugai Pharmaceutical Co., Ltd. Meeting Date: 03/30/2020 Country: Japan

Meeting Type: Annual Ticker: 4519

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Chugai Pharmaceutical Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Allocation of Income, with a Final Dividend of JPY 92

For For

For For Elect Director Kosaka, Tatsuro 2.1

For For Elect Director Ueno, Moto 2.2

For For Elect Director Okuda, Osamu 2.3

For For Elect Director Momoi, Mariko 2.4

For For Appoint Statutory Auditor Nimura, Takaaki 3.1

For For Appoint Statutory Auditor Masuda, Kenichi 3.2

For For Approve Compensation Ceiling for Statutory Auditors

4

CJ Corp. Meeting Date: 03/30/2020 Country: South Korea

Meeting Type: Annual Ticker: 001040

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Choi Eun-seok as Inside Director 2.1

Against For Elect Song Hyun-seung as Outside Director 2.2

Voter Rationale: Concerns regarding board gender diversity.

Blended Rationale: Concerns regarding board gender diversity.

Against For Elect Ryu Chul-kyu as Outside Director 2.3

Voter Rationale: Concerns regarding attendance.

Blended Rationale: Concerns regarding attendance.

For For Elect Song Hyun-seung as a Member of Audit Committee

3.1

Against For Elect Ryu Chul-kyu as a Member of Audit Committee

3.2

Voter Rationale: Concerns regarding attendance.

Blended Rationale: Concerns regarding attendance.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

CJ Corp. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

Coway Co., Ltd. Meeting Date: 03/30/2020 Country: South Korea

Meeting Type: Annual Ticker: 021240

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Against For Approve Total Remuneration of Inside Directors and Outside Directors

2

Voter Rationale: Concerns regarding pay quantum. The proposed remuneration limit is high relative to that of the market average; and the company is proposing an increase without providing any reasonable justification.

Blended Rationale: Concerns regarding pay quantum. The proposed remuneration limit is high relative to that of the market average; and the company is proposing an increase without providing any reasonable justification.

Dongwha Enterprise Co., Ltd. Meeting Date: 03/30/2020 Country: South Korea

Meeting Type: Annual Ticker: 025900

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Against For Approve Total Remuneration of Inside Directors and Outside Directors

2

Voter Rationale: The level of the directors' remuneration cap is excessive compared to that of the market norm, and the company has not provided any reasonable justification for the excessive remuneration limit.

Blended Rationale: The level of the directors' remuneration cap is excessive compared to that of the market norm, and the company has not provided any reasonable justification for the excessive remuneration limit.

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Doosan Corp. Meeting Date: 03/30/2020 Country: South Korea

Meeting Type: Annual Ticker: 000150

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

Against For Elect Kim Hyeong-ju as Outside Director 3

Voter Rationale: Concerns regarding board gender diversity.

Blended Rationale: Concerns regarding board gender diversity.

For For Elect Kim Hyeong-ju as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Doosan Heavy Industries & Construction Co., Ltd. Meeting Date: 03/30/2020 Country: South Korea

Meeting Type: Annual Ticker: 034020

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

Against For Amend Articles of Incorporation 2

Voter Rationale: Lack of justification for increase in authorised capital.

Blended Rationale: Lack of justification for increase in authorised capital.

For For Elect Park Ji-won as Inside Director 3.1

Against For Elect Nam Ik-hyeon as Outside Director 3.2

Voter Rationale: Concerns regarding board gender diversity.

Blended Rationale: Concerns regarding board gender diversity.

For For Elect Nam Ik-hyeon as a Member of Audit Committee

4

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

ENCE Energia y Celulosa, SA Meeting Date: 03/30/2020 Country: Spain

Meeting Type: Annual Ticker: ENC

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Consolidated and Standalone Financial Statements

For For

For For Approve Non-Financial Information Statement 2

For For Approve Allocation of Income and Dividends 3

For For Approve Discharge of Board 4

Against For Reelect Ignacio de Colmenares Brunet as Director

5.A

Voter Rationale: Lack of independence on the board

Blended Rationale: Lack of independence on the board

Against For Reelect Victor Urrutia Vallejo as Director 5.B

Voter Rationale: Lack of independence on the board.

Blended Rationale: Lack of independence on the board.

For For Renew Appointment of PricewaterhouseCoopers as Auditor

6

For For Approve Remuneration Policy 7

For For Authorize Board to Ratify and Execute Approved Resolutions

8

For For Advisory Vote on Remuneration Report 9

GMO Internet, Inc. Meeting Date: 03/30/2020 Country: Japan

Meeting Type: Annual Ticker: 9449

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Amend Articles to Amend Provisions on Number of Directors

For For

Against For Elect Director Kumagai, Masatoshi 2.1

Voter Rationale: The company has continuously failed to put its poison pill renewal to a vote.

Blended Rationale: The company has continuously failed to put its poison pill renewal to a vote.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

GMO Internet, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Yasuda, Masashi 2.2

For For Elect Director Nishiyama, Hiroyuki 2.3

For For Elect Director Ainoura, Issei 2.4

For For Elect Director Ito, Tadashi 2.5

For For Elect Director Yamashita, Hirofumi 2.6

For For Elect Director Arisawa, Katsumi 2.7

For For Elect Director Horiuchi, Toshiaki 2.8

For For Elect Director Arai, Teruhiro 2.9

For For Elect Director Hayashi, Yasuo 2.10

For For Elect Director Kodama, Kimihiro 2.11

For For Elect Director Chujo, Ichiro 2.12

For For Elect Director Hashiguchi, Makoto 2.13

For For Elect Director Fukui, Atsuko 2.14

For For Elect Director Kaneko, Takehito 2.15

For For Elect Director Inagaki, Noriko 2.16

For For Elect Director and Audit Committee Member Tachibana, Koichi

3.1

For For Elect Director and Audit Committee Member Ogura, Keigo

3.2

For For Elect Director and Audit Committee Member Gunjikake, Takashi

3.3

For For Elect Director and Audit Committee Member Masuda, Kaname

3.4

For For Approve Compensation Ceiling for Directors Who Are Not Audit Committee Members

4

Grupo Financiero Banorte SAB de CV Meeting Date: 03/30/2020 Country: Mexico

Meeting Type: Special Ticker: GFNORTEO

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Set Maximum Amount of Share Repurchase Reserve

For For

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Grupo Financiero Banorte SAB de CV Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Authorize Board to Ratify and Execute Approved Resolutions

2

GungHo Online Entertainment, Inc. Meeting Date: 03/30/2020 Country: Japan

Meeting Type: Annual Ticker: 3765

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Morishita, Kazuki For For

For For Elect Director Sakai, Kazuya 1.2

For For Elect Director Kitamura, Yoshinori 1.3

For For Elect Director Ochi, Masato 1.4

For For Elect Director Yoshida, Koji 1.5

For For Elect Director Oba, Norikazu 1.6

For For Elect Director Onishi, Hidetsugu 1.7

For For Elect Director Miyakawa, Keiji 1.8

For For Elect Director Tanaka, Susumu 1.9

Habib Bank Ltd. Meeting Date: 03/30/2020 Country: Pakistan

Meeting Type: Annual Ticker: HBL

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports

For For

For For Approve A.F. Ferguson and Co. as Auditors and Authorize Board to Fix Their Remuneration

2

For For Approve Final Cash Dividend 3

For For Approve Loan Agreement in favour of First MicroFinanceBank Limited (FMFB)

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Habib Bank Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Investment in HBL Bank UK Limited (HBL UK)

5

For For Approve Remuneration Policy 6

Against For Other Business 7

Voter Rationale: Other business not disclosed.

Blended Rationale: Other business not disclosed.

HiQ International AB Meeting Date: 03/30/2020 Country: Sweden

Meeting Type: Annual Ticker: HIQ

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Elect Chairman of Meeting For For

For For Prepare and Approve List of Shareholders 2

For For Approve Agenda of Meeting 3

For For Designate Inspector(s) of Minutes of Meeting 4

For For Acknowledge Proper Convening of Meeting 5

For For Accept Financial Statements and Statutory Reports

8.a

For For Approve Allocation of Income and Omission of Dividends

8.b

For For Approve Discharge of Board and President 8.c

For For Determine Number of Directors (6) and Deputy Directors (0)

9

For For Approve Remuneration of Directors in the Amount of SEK 725,000 to Chairman and SEK 275,000 to Other Directors; Approve Remuneration for Audit Committee Chairman; Approve Remuneration of Auditors

10

For For Reelect Gunnel Duveblad (Chairman), Erik Hallberg, Raimo Lind, Lars Stugemo as Directors; Elect Johan Dozzi and Katarina Axelsson Lindgren as New Directors

11

For For Ratify KPMG as Auditors 12

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

HiQ International AB Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve 2:1 Stock Split in Connection with Redemption Program; Approve SEK 2.8 Million Reduction In Share Capital via Share Cancellation; Approve Capitalization of Reserves of SEK 2.8 Million in Connection with Redemption Program

13

For For Authorize Share Repurchase Program and Reissuance of Repurchased Shares

14

Against For Approve Stock Option Plan for Key Employees; Approve Creation of SEK 100,000 Pool of Capital to Guarantee Conversion Rights

15

Voter Rationale: Excessive dilution

Blended Rationale: Excessive dilution

For For Approve Issuance of 5 Million Shares without Preemptive Rights

16

Against For Approve Remuneration Policy And Other Terms of Employment For Executive Management

17

Voter Rationale: Lack of disclosure around the performance conditions attached to the annual bonus

Blended Rationale: Lack of disclosure around the performance conditions attached to the annual bonus

Hyundai Green Food Co., Ltd. Meeting Date: 03/30/2020 Country: South Korea

Meeting Type: Annual Ticker: 005440

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Jeong Ji-sun as Inside Director 3.1

For For Elect Jang Ho-jin as Inside Director 3.2

For For Elect Lee Jin-won as Inside Director 3.3

For For Elect Kim Byeong-jun as Non-Independent Non-Executive Director

3.4

For For Elect Jeong Byeong-du as Outside Director 3.5

For For Elect Jeong Byeong-du as a Member of Audit Committee

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Hyundai Green Food Co., Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

For For Approve Terms of Retirement Pay 6

Hyundai Livart Furniture Co., Ltd. Meeting Date: 03/30/2020 Country: South Korea

Meeting Type: Annual Ticker: 079430

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Yoon Gi-cheol as Inside Director 3.1

For For Elect Yoon Young-sik as Inside Director 3.2

Against For Elect Kim Gae-cheon as Outside Director 3.3

Voter Rationale: Concerns regarding board gender diversity.

Blended Rationale: Concerns regarding board gender diversity.

For For Elect Kim Gae-cheon as a Member of Audit Committee

4

For For Approve Terms of Retirement Pay 5

For For Approve Total Remuneration of Inside Directors and Outside Directors

6

IRB Brasil Resseguros SA Meeting Date: 03/30/2020 Country: Brazil

Meeting Type: Annual Ticker: IRBR3

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2019

For For

For For Approve Allocation of Income and Dividends 2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

IRB Brasil Resseguros SA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Fix Number of Fiscal Council Members at Four 3

For For Elect Reginaldo Jose Camilo as Fiscal Council Member and Rodrigo Andrade de Morais as Alternate

4.1

For For Elect Paulo Euclides Bonzanini as Fiscal Council Member and Luiz Gustavo Braz Lage as Alternate

4.2

For For Elect Otavio Ladeira de Medeiros as Fiscal Council Member and Bruno Cirilo Mendonca de Campos as Alternate

4.3

For For Elect Marcia Cicarelli Barbosa de Oliveira as Fiscal Council Member

4.4

For For Elect Marcelo Gomes Teixeira as Director 5

For For Elect Fabio Mendes Dutra as Alternate Director 6

IRB Brasil Resseguros SA Meeting Date: 03/30/2020 Country: Brazil

Meeting Type: Special Ticker: IRBR3

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Remuneration of Company's Management and Fiscal Council

For Against

Voter Rationale: Lack of disclosure so unable to make an informed decision.

Blended Rationale: Lack of disclosure so unable to make an informed decision.

Kangwon Land, Inc. Meeting Date: 03/30/2020 Country: South Korea

Meeting Type: Annual Ticker: 035250

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Kim Ju-il as a Member of Audit Committee 2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Kangwon Land, Inc. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

KOREA AUTOGLASS Corp. Meeting Date: 03/30/2020 Country: South Korea

Meeting Type: Annual Ticker: 152330

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Total Remuneration of Inside Directors and Outside Directors

For Against

Voter Rationale: The level of the directors' remuneration cap is excessive compared to that of the market norm, and the company has not provided any reasonable justification for the excessive remuneration limit.

Blended Rationale: The level of the directors' remuneration cap is excessive compared to that of the market norm, and the company has not provided any reasonable justification for the excessive remuneration limit.

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

2

For For Approve Terms of Retirement Pay 3

Neoplux Co., Ltd. (Private Equity) Meeting Date: 03/30/2020 Country: South Korea

Meeting Type: Annual Ticker: A268860

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Director 2

For For Approve Total Remuneration of Inside Directors and Outside Directors

3

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Offcn Education Technology Co., Ltd. Meeting Date: 03/30/2020 Country: China

Meeting Type: Annual Ticker: 002607

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Annual Report and Summary For For

For For Approve Report of the Board of Directors 2

For For Approve Report of the Board of Supervisors 3

For For Approve Financial Statements 4

For For Approve Profit Distribution 5

Against For Approve Entrusted Wealth Management Business

6

Voter Rationale: The proposed investment could expose the company to unnecessary risks.

Blended Rationale: The proposed investment could expose the company to unnecessary risks.

For For Approve Remuneration of Directors, Supervisors and Senior Management Members

7

For For Approve Appointment of Auditor 8

For For Approve Comprehensive Credit Line Bank Application

9

Orange Life Insurance Ltd. Meeting Date: 03/30/2020 Country: South Korea

Meeting Type: Annual Ticker: 079440

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Cheong Mun-kuk as Inside Director 2.1

For For Elect Koh Seog-heon as Non-Independent Non-Executive Director

2.2

For For Elect Kim Hyoung-tae as Outside Director 2.3

For For Elect Sung Joo-ho as Outside Director 2.4

For For Elect Kim Bum-su as Outside Director 2.5

For For Elect Chun Young-sub as Outside Director to Serve as Audit Committee Member

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Orange Life Insurance Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Kim Bum-su as a Member of Audit Committee

4.1

For For Elect Sung Joo-ho as a Member of Audit Committee

4.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

5

POSCO INTERNATIONAL Corp. Meeting Date: 03/30/2020 Country: South Korea

Meeting Type: Annual Ticker: 047050

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Ju Si-bo as Inside Director 2.1.1

For For Elect Noh Min-yong as Inside Director 2.1.2

For For Elect Jeong Tak as Non-Independent Non-Executive Director

2.2

For For Elect Hong Jong-ho as Outside Director 2.3.1

For For Elect Shim In-suk as Outside Director 2.3.2

For For Elect Hong Jong-ho as a Member of Audit Committee

3.1

For For Elect Shim In-suk as a Member of Audit Committee

3.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Approve Spin-Off Agreement 5

S.N.G.N. Romgaz S.A Meeting Date: 03/30/2020 Country: Romania

Meeting Type: Special Ticker: SNG

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

S.N.G.N. Romgaz S.A

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Extension of Fixed Assets Rental Agreement Concluded Between SNGN Romgaz SA and DEPOGAZ Ploiesti SRL

For For

For For Authorize Filing of Required Documents/Other Formalities

2

Sung Kwang Bend Co., Ltd. Meeting Date: 03/30/2020 Country: South Korea

Meeting Type: Annual Ticker: 014620

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements For For

For For Approve Appropriation of Income 2

For For Elect Ahn Gap-won as Inside Director 3.1

For For Elect Ahn Jae-il as Inside Director 3.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

The Citadel Group Limited Meeting Date: 03/30/2020 Country: Australia

Meeting Type: Special Ticker: CGL

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Ratify Past Issuance of Shares to Institutional and Sophisticated Investors

For Against

Voter Rationale: A vote AGAINST the issuance of additional shares to institutional and sophisticated investors is warranted given the significant concerns with the substantial total dilution to existing shareholders of 55.57 percent.

Blended Rationale: A vote AGAINST the issuance of additional shares to institutional and sophisticated investors is warranted given the significant concerns with the substantial total dilution to existing shareholders of 55.57 percent.

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

The Citadel Group Limited Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

Against For Approve Issuance of Shares to Institutional and Sophisticated Investors

2

Voter Rationale: A vote AGAINST the issuance of additional shares to institutional and sophisticated investors is warranted given the significant concerns with the substantial total dilution to existing shareholders of 55.57 percent.

Blended Rationale: A vote AGAINST the issuance of additional shares to institutional and sophisticated investors is warranted given the significant concerns with the substantial total dilution to existing shareholders of 55.57 percent.

For For Approve Issuance of Wellbeing Management Shares to Select Vendors and Senior Management of Wellbeing Software Group Limited

3

Zhejiang Longsheng Group Co., Ltd. Meeting Date: 03/30/2020 Country: China

Meeting Type: Special Ticker: 600352

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Company's Eligibility for Corporate Bond Issuance

For For

For For Approve Issue Size 2.1

For For Approve Bond Maturity 2.2

For For Approve Bond Interest Rate and Method of Determination

2.3

For For Approve Target Subscribers and Issue Manner 2.4

For For Approve Guarantee Matters 2.5

For For Approve Terms of Redemption or Terms of Sell-Back

2.6

For For Approve Listing Arrangements 2.7

For For Approve Use of Proceeds 2.8

For For Approve Resolution Validity Period 2.9

For For Approve Authorization of Board to Handle All Related Matters Regarding Issuance of Corporate Bonds

3

For For Approve Authorization of Board to Handle All Related Matters Regarding Principal and Interest of the Bond Cannot be Paid on Time or Repayment Guarantee Measures are Taken When The Principal and Interest of the Bond are not Paid on Time

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Abu Dhabi National Oil Co. for Distribution PJSC Meeting Date: 03/31/2020 Country: United Arab Emirates

Meeting Type: Annual Ticker: ADNOCDIST

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations for FY 2019

For For

For For Approve Auditors' Report on Company Financial Statements for FY 2019

2

For For Accept Financial Statements and Statutory Reports for FY 2019

3

For For Elect Ahmed Al Zaabi as Director 4

For For Approve Dividends of AED 0.0955 per Share for First Half of FY 2019

5

For For Approve Dividends of AED 0.0955 per Share for Second Half of FY 2019

6

Against For Approve Remuneration of Directors for FY 2019 7

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

For For Approve Discharge of Directors for FY 2019 8

For For Approve Discharge of Auditors for FY 2019 9

For For Ratify Auditors and Fix Their Remuneration for FY 2020

10

For For Authorize Chairman or any Delegated Person to Ratify and Execute Approved Resolutions

11

Anima Holding SpA Meeting Date: 03/31/2020 Country: Italy

Meeting Type: Annual/Special Ticker: ANIM

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements, Statutory Reports, and Allocation of Income

For For

For For Approve Remuneration Policy and Second Section of the Remuneration Report

2

For None Fix Number of Directors 3.1

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Anima Holding SpA Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For None Fix Board Terms for Directors 3.2

For None Slate 1 Submitted by Banco BPM Spa 3.3.1

Against None Slate 2 Submitted by Poste Italiane Spa 3.3.2

Against None Slate 3 Submitted by Institutional Shareholders (Assogestioni)

3.3.3

For None Elect Livio Raimondi as Board Chair 3.4

For None Approve Remuneration of Directors 3.5

For None Slate 1 Submitted by Banco BPM Spa 4.1.1

Against None Slate 2 Submitted by Institutional Shareholders (Assogestioni)

4.1.2

For None Appoint Chairman of Internal Statutory Auditors 4.2

For None Approve Internal Auditors' Remuneration 4.3

For For Authorize Share Repurchase Program and Reissuance of Repurchased Shares

5

For For Authorize Cancellation of Treasury Shares without Reduction of Share Capital; Amend Article 5

1

Bank of Montreal Meeting Date: 03/31/2020 Country: Canada

Meeting Type: Annual Ticker: BMO

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.1 Elect Director Janice M. Babiak For For

For For Elect Director Sophie Brochu 1.2

For For Elect Director Craig W. Broderick 1.3

For For Elect Director George A. Cope 1.4

For For Elect Director Christine A. Edwards 1.5

For For Elect Director Martin S. Eichenbaum 1.6

For For Elect Director Ronald H. Farmer 1.7

For For Elect Director David E. Harquail 1.8

For For Elect Director Linda S. Huber 1.9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Bank of Montreal Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Elect Director Eric R. La Fleche 1.10

For For Elect Director Lorraine Mitchelmore 1.11

For For Elect Director Darryl White 1.12

For For Ratify KPMG LLP as Auditors 2

For For Advisory Vote on Executive Compensation Approach

3

For For Amend Stock Option Plan 4

Against Against SP 1: Update Computer Systems to Increase Competitiveness while Ensuring Greater Protection of Personal Information

5

Against Against SP 2: Set a Diversity Target of More than 40% of the Board Members for the Next Five Years

6

Against Against SP 3: Assess the Incongruities of Bank's Lending History and Financing Criteria Regarding Fossil Fuel Loans and Public Statements Regarding Sustainability and Climate Change

7

DBS Group Holdings Ltd. Meeting Date: 03/31/2020 Country: Singapore

Meeting Type: Annual Ticker: D05

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Adopt Financial Statements and Directors' and Auditors' Reports

For For

For For Approve Final Dividend 2

For For Approve Directors' Fees 3

For For Approve PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Their Remuneration

4

For For Elect Peter Seah Lim Huat as Director 5

For For Elect Ho Tian Yee as Director 6

For For Elect Olivier Lim Tse Ghow as Director 7

For For Elect Ow Foong Pheng as Director 8

For For Approve Grant of Awards and Issuance of Shares Under the DBSH Share Plan

9

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

DBS Group Holdings Ltd. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Grant of Awards and Issuance of Shares Under the California Sub-Plan to the DBSH Share Plan

10

For For Approve Issuance of Equity or Equity-Linked Securities with or without Preemptive Rights

11

For For Approve Issuance of Shares Pursuant to the DBSH Scrip Dividend Scheme

12

For For Authorize Share Repurchase Program 13

Gravity Co., Ltd. Meeting Date: 03/31/2020 Country: South Korea

Meeting Type: Annual Ticker: GRVY

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approval of Consolidated and Non-consolidated Financial Statements for the Fiscal Year 2019

For For

For For Reappointment of Hyun Chul Park 2.1

For For Reappointment of Yoshinori Kitamura 2.2

For For Reappointment of Kazuki Morishita 2.3

For For Reappointment of Kazuya Sakai 2.4

For For Reappointment of Doo Hyun Ryu 2.5

Against For Reappointment of Jung Yoo 2.6

Voter Rationale: Lack of board gender diversity.

Blended Rationale: Lack of board gender diversity.

For For Reappointment of Yong Seon Kwon 2.7

For For Appointment of Kee Woong Park 2.8

For For Approval of the Compensation Ceiling for the Directors in 2020

3

For For Approval of Amendment to Articles of Incorporation

4

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Intouch Holdings Public Co. Ltd. Meeting Date: 03/31/2020 Country: Thailand

Meeting Type: Annual Ticker: INTUCH

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Matters to be Informed For For

For For Acknowledge Board of Directors' Report 2

For For Approve Financial Statements 3

For For Approve Allocation of Income as Dividend 4

For For Approve Deloitte Touche Tohmatsu Jaiyos Audit Co. Ltd. as Auditor and Authorize Board to Fix Their Remuneration

5

For For Elect Kan Trakulhoon as Director 6.1

For For Elect Anek Pana-apichon as Director 6.2

For For Elect Manida Zinmerman as Director 6.3

For For Approve Remuneration of Directors 7

Against For Other Business 8

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

KT&G Corp. Meeting Date: 03/31/2020 Country: South Korea

Meeting Type: Annual Ticker: 033780

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Ko Yoon-seong as Outside Director 2.1

For For Elect Kim Myeong-cheol as Outside Director 2.2

For For Elect Hong Hyeon-jong as Outside Director 2.3

For For Elect Ko Yoon-seong as a Member of Audit Committee

3.1

For For Elect Kim Myeong-cheol as a Member of Audit Committee

3.2

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

KT&G Corp. Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

On-Bright Electronics Co. Ltd. Meeting Date: 03/31/2020 Country: Cayman Islands

Meeting Type: Special Ticker: 4947

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Merger Between the Company, Orthosie Investment Holdings Ltd. and Euporie Investment Holdings Limited

For For

For For Approve Application for Suspension of Public Offering After Merger

2

Shenzhen Expressway Company Limited Meeting Date: 03/31/2020 Country: China

Meeting Type: Special Ticker: 548

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.01 Approve Type and Nominal Value of Shares For For

For For Approve Method and Timing of Issuance 1.02

For For Approve Method of Subscription 1.03

For For Approve Subscribers 1.04

For For Approve Size of the Issuance 1.05

For For Approve Method of Pricing, Pricing Benchmark Date, Issue Price and Adjustment of Issue Price

1.06

For For Approve Use of Proceeds 1.07

For For Approve the Arrangement for Accumulated Undistributed Profits Before the Completion of the Issuance

1.08

For For Approve Place of Listing 1.09

For For Approve Validity Period of the Resolutions 1.10

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

Shenzhen Expressway Company Limited Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Grant of Authority 1.11

For For Approve Connected/Related Transaction Contemplated Under the Non-Public Issuance of H Shares

2

Shenzhen Expressway Company Limited Meeting Date: 03/31/2020 Country: China

Meeting Type: Special Ticker: 548

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1.01 Approve Type and Nominal Value of Shares For For

For For Approve Method and Timing of Issuance 1.02

For For Approve Method of Subscription 1.03

For For Approve Subscribers 1.04

For For Approve Size of the Issuance 1.05

For For Approve Method of Pricing, Pricing Benchmark Date, Issue Price and Adjustment of Issue Price

1.06

For For Approve Use of Proceeds 1.07

For For Approve the Arrangement for Accumulated Undistributed Profits Before the Completion of the Issuance

1.08

For For Approve Place of Listing 1.09

For For Approve Validity Period of the Resolutions 1.10

For For Approve Grant of Authority 1.11

SK Materials Co., Ltd. Meeting Date: 03/31/2020 Country: South Korea

Meeting Type: Annual Ticker: 036490

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

SK Materials Co., Ltd.

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Amend Articles of Incorporation 2

For For Elect Jang Dong-hyeon as Non-Independent Non-Executive Director

3.1

For For Elect Jang Yong-ho as Non-Independent Non-Executive Director

3.2

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

For For Authorize Board to Fix Remuneration of Internal Auditor(s)

5

For For Approve Terms of Retirement Pay 6

For For Approve Stock Option Grants 7

SL Corp. Meeting Date: 03/31/2020 Country: South Korea

Meeting Type: Annual Ticker: 005850

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Financial Statements and Allocation of Income

For For

For For Elect Two Inside Directors and One Outside Director (Bundled)

2

For For Elect Ahn Gyeong-jun as a Member of Audit Committee

3

For For Approve Total Remuneration of Inside Directors and Outside Directors

4

The Gulf Bank of Kuwait Meeting Date: 03/31/2020 Country: Kuwait

Meeting Type: Annual/Special Ticker: GBK

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

The Gulf Bank of Kuwait

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations for FY 2019

For For

For For Approve Auditors' Report on Company Financial Statements for FY 2019

2

For For Approve Special Report on Penalties and Violations

3

For For Accept Financial Statements and Statutory Reports for FY 2019

4

For For Approve Transfer of 10 Percent of Net Income to Statutory Reserve

5

For For Approve Dividends of KWD 0.011 per Share 6

For For Approve Remuneration of Directors of KWD 135,000 for FY 2019

7

For For Authorize Share Repurchase Program of Up to 10 Percent of Issued Share Capital

8

Against For Authorize Issuance of Bonds/Debentures/Sukuk and Authorize Board to Set Terms of Issuance

9

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

Against For Approve Directors' Loans 10

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

Against For Approve Related Party Transactions for FY 2019 and FY 2020

11

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

For For Approve Discharge of Directors for FY 2019 12

For For Ratify Auditors and Fix Their Remuneration for FY 2020

13

For For Amend Article 28 of Bylaws Re: Board Composition and Election

1

For For Amend Article 30 of Bylaws Re: Director Nominee Qualifications

2

For For Amend Article 33 of Bylaws Re: Term of Board Membership

3

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

The National Commercial Bank CJSC Meeting Date: 03/31/2020 Country: Saudi Arabia

Meeting Type: Annual Ticker: 1180

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

1 Approve Board Report on Company Operations for FY 2019

For For

For For Accept Financial Statements and Statutory Reports for FY 2019

2

For For Approve Auditors' Report on Company Financial Statements for FY 2019

3

For For Approve Dividend of SAR 1.20 per Share for Second Half of FY 2019

4

For For Ratify Distributed Dividend of SAR 1.10 per Share for First Half of FY 2019

5

For For Approve Interim Dividends Semi Annually or Quarterly for FY 2020

6

For For Ratify Auditors and Fix Their Remuneration for FY 2020

7

For For Approve Remuneration of Directors of SAR 4,825,000 for FY 2019

8

For For Approve Discharge of Directors for FY 2019 9

For For Authorize Share Repurchase Program Up to 3,976,035 Shares to be Allocated to Employee Share Scheme

10

Against For Approve Related Party Transactions 11

Voter Rationale: Lack of disclosure.

Blended Rationale: Lack of disclosure.

For For Approve Related Party Transactions Re: Bupa Arabia for Cooperative Insurance Company

12

For For Approve Related Party Transactions Re: SIMAH 13

For For Approve Related Party Transactions Re: SIMAH 14

For For Approve Related Party Transactions Re: SIMAH 15

For For Approve Related Party Transactions Re: SIMAH 16

For For Approve Related Party Transactions Re: SIMAH 17

For For Approve Related Party Transactions Re: STC Solutions

18

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

The National Commercial Bank CJSC Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Related Party Transactions Re: Saudi Accenture

19

For For Approve Related Party Transactions Re: STC Solutions

20

For For Approve Related Party Transactions Re: Saudi Mobily Company

21

For For Approve Related Party Transactions Re: Saudi Telecom Company

22

For For Approve Related Party Transactions Re: SIMAH 23

UPM-Kymmene Oyj Meeting Date: 03/31/2020 Country: Finland

Meeting Type: Annual Ticker: UPM

Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

3 Designate Inspector or Shareholder Representative(s) of Minutes of Meeting

For For

For For Acknowledge Proper Convening of Meeting 4

For For Prepare and Approve List of Shareholders 5

For For Accept Financial Statements and Statutory Reports

7

For For Approve Allocation of Income and Dividends of EUR 1.30 Per Share

8

For For Approve Discharge of Board and President 9

For For Approve Remuneration Policy And Other Terms of Employment For Executive Management

10

For For Remuneration of Directors in the Amount of EUR 190,000 for Chairman, EUR 135,000 for Deputy Chairman and EUR 110,000 for Other Directors; Approve Compensation for Committee Work

11

For For Fix Number of Directors at Ten 12

For For Reelect Berndt Brunow, Henrik Ehrnrooth, Piia-Noora Kauppi, Marjan Oudeman, Ari Puheloinen, Veli-Matti Reinikkala, Kim Wahl and Bjorn Wahlroos as Directors; Elect Emma FitzGerald and Martin a Porta as New Directors

13

Vote Summary Report

Reporting Period: 03/01/2020 to 03/31/2020

UPM-Kymmene Oyj Proposal Number

Proposal Text

Mgmt Rec

Vote Instruction

For For Approve Remuneration of Auditors 14

For For Ratify PricewaterhouseCoopers as Auditors 15

For For Approve Issuance of up to 25 Million Shares without Preemptive Rights

16

For For Authorize Share Repurchase Program 17

For For Authorize Charitable Donations 18